29th July 2015
Barclays led the FTSE 100 higher on Wednesday after the bank reported a 25 per cent rise in profits.
Pre-tax earnings rose to £3.1 billion for the first six months of the year, which Barclays said reflected “improvements in all core operating businesses”.
The results saw the bank’s share price rise two per cent in early trading in London and come just a few weeks after new chairman John McFarlane sacked chief executive Antony Jenkins.
Stocks across Europe were broadly higher as upbeat earnings data lifted market sentiment, with investors turning their attention to the latest policy announcement from the Federal Reserve.
The euro and yen were both up slightly against the dollar before the Fed’s rate statement, which it is hoped will offer clues on the timing of the bank’s initial rate hike.
Fed chair Janet Yellen has indicated the bank may raise rates in September if the US economy continues to improve as forecast.
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