Quentin D. Solano
All posts from Quentin D. Solano
Quentin D. Solano in Breaking news,

Barclays slumps the most since Brexit vote as FTSE 100 steadies ahead of ECB

AFP/Getty Images

Barclays shares are trading in the red Thursday.

U.K. stocks steadied around a three-week low Thursday, but Barclays PLC shares were under pressure following the bank’s third-quarter earnings report. The FTSE 100 index UKX, +0.25%  was up 1.2 point at 7,448.53, as consumer goods, commodity and industrial stocks moved higher. But the financial, health care, and consumer services sectors were among those losing ground. The London benchmark on Wednesday fell 1.1% and marked its lowest close since Oct. 2, according to FactSet data. Corporates: Shares of Barclays BARC, -6.55% BCS, -7.28%  were whacked down 6.3%, facing their worst session since June 2016, immediately after the U.K.’s Brexit referendum. That move came as the lender said third-quarter revenue fell 5% to £5.17 billion ($6.9 billion) from a year ago, as bond trading revenues slumped. The bank’s markets-business revenue fell 30%, but that was somewhat offset by Barclays’s U.K. retail and card business. Net-profit rose to £583 million.