(Bloomberg) -- Emerging-market stocks rose for a fourth week as U.S. lawmakers negotiated a stimulus agreement. The rally was tempered by rising virus cases around the world as winter approaches in the Northern Hemisphere. Turkey’s central bank unexpectedly kept interest rates on hold, while Hungary’s policy makers also stood pat. China’s recovery from the coronavirus slump continued in the third quarter and showed signs of broadening in September, keeping the economy on track to be the world’s only major growth engine.The following is a roundup of emerging-market news and highlights for the ...
(Bloomberg Opinion) -- The Covid-19 pandemic has been very good to Wall Street. Central banks and governments have shored up companies and markets, bolstering securities firms’ trading revenues to unprecedented levels. Nowhere has the bonanza been more consequential perhaps than at Britain’s Barclays Plc, vindicating Chief Executive Officer Jes Staley’s strategy of sticking with investment banking and buying him time in the job. The boon may not last, however.Barclays on Friday said income from trading rose 29% to 1.6 billion pounds ($2.2 billion) in the third quarter — a surge that beat the ...
Shares in Barclays rose more than 6% on Friday after the bank beat profit forecasts for the third quarter of 2020. However, the lender warned that the economic outlook was getting worse, which could lead to more cost cuts.
(Bloomberg) -- Barclays Plc Chief Executive Officer Jes Staley’s drive to make investment banking the centerpiece of his strategy paid off in the third quarter, with equities trading in a volatile market beating the bank’s Wall Street peers.The shares approached a two-month high. The London-based bank’s equity trading income jumped 40% and foreign-exchange, rates and credit trading rose 23%, helping the company beat earnings estimates. Barclays also posted lower-than-expected impairments from the pandemic that’s roiling its key markets.Staley said he plans to stay as CEO for “a couple of ...
European stocks inched higher on Friday, boosted by positive earnings updates from Barclays and carmakers, while nagging concerns about the economic impact of surging COVID-19 cases put markets on course for weekly losses. The pan-European STOXX 600 index rose 0.2% by 0711 GMT, with Asian markets stuck in a trading range as investors treaded with caution with less than two weeks to go before the U.S. presidential election. London's FTSE 100 was supported by a 2.8% jump in Barclays after it reported much better than expected quarterly earnings.
Barclays on Friday reported stronger than expected third-quarter results thanks to a return to profit for the bank's consumer businesses and Chief Executive Jes Staley said he aimed to stay on for two more years. There has been speculation over Staley's future since Barclays disclosed in February that British regulators had launched an investigation into Staley's past connections to the late financier and convicted sex offender Jeffrey Epstein, which is yet to conclude. British media reports around the same time said the bank's board had appointed a headhunter to search for a successor and ...
