Barclays Shares Slump as Debt Trading and Expenses Disappoint
- FICC slumps 35%, trailing bumper quarter on Wall Street
- Costs expected to rise on bonuses, real estate review
WATCH: CEO Jes Staley says Barclays’s trading business had a "mixed result" in the first quarter.
Source: BloombergThis article is for subscribers only.
Barclays Plc fell the most among European banks on Friday after the bank’s debt trading revenue and expense forecast disappointed investors.
Revenue from fixed income, currency and commodities trading slumped 35% in a quarter that saw U.S. rivals post double-digit growth. Shares fell as much as 7.5% as the bank missed its target on a key expense ratio and warned costs will rise this year above 2020 levels.