Barclays reports 35% profits jump as bond trading surges

Further £600m allocated for PPI claims

Barclays has reported 35% growth in Q3 pre-tax profits on the back of bond trading reaching its highest point in two years.

Group profits before tax were £837m, compared to £619m for the same quarter last year, beating analyst estimates, as the bank said the diversification of its client base, and the appreciation of the dollar and the euro against sterling, also helped boost income. The group said it saw improved performance in its investment banking arm, which is largely based in the US, where profits were up 40% to £947m on last year. Barclays shares jump 7% despite fall in profits However, the bank has been forced to set aside a further £600m for its PPI pot. The group said additional UK customer re...