This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36148138
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
FTSE 100 rises as results lift Barclays shares | FTSE 100 rises as results lift Barclays shares |
(about 2 hours later) | |
(Close): The market rose slightly and shares in Barclays were higher after its first-quarter results. | |
By the end of trade, the benchmark FTSE 100 index closed up 35.39 points at 6,319.91. | |
After reporting its first quarter results, shares in Barclays rose 3% at first before falling back to end 0.5% higher. | |
That was despite the bank reporting a 25% drop in pre-tax profits to £793m in the first three months of the year. | That was despite the bank reporting a 25% drop in pre-tax profits to £793m in the first three months of the year. |
However, analysts said the bank's results showed it had outperformed other companies in the sector. | However, analysts said the bank's results showed it had outperformed other companies in the sector. |
"This is a relatively clean and good set of numbers against low expectations," said analysts at Keefe, Bruyette & Woods. | "This is a relatively clean and good set of numbers against low expectations," said analysts at Keefe, Bruyette & Woods. |
Standard Chartered - whose shares had jumped 10% on Tuesday after its first quarter results - fell back 1.1% after Deutsche Bank cut its rating on the bank to "sell" from "hold". | |
On the currency markets, news that the UK economy grew by 0.4% in the first quarter of the year - as expected - provoked little reaction. The pound dipped 0.25% against the dollar at $1.4545, and slipped 0.33% against the euro to €1.286. |