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Barclays shares drop 7% after profits disappoint

Shares in Barclays tumbled 7% after its third-quarter profits figures came in below analysts’ expectations.

Profits for the period were up by 31% to £1.1bn, giving the bank a profit for the nine months so far of £3.4bn.

But its investment banking profits were down from £1bn to £652m, in what the bank said had been a difficult quarter for its markets business.
Barclays boss Jes Staley is currently being investigated over claims he tried to uncover the name of a whistleblower.

The whistleblower wrote a letter that raised questions about the decision to employ one of Mr Staley’s old colleagues from his JP Morgan days.

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