Barclays reported a mixed financial performance in the first quarter, with revenue surpassing estimates due to a windfall from its stock traders amid volatile global markets. However, the bank's profits fell by 12% as rising UK interest rates adversely affected mortgage demand. Despite this decline, Barclays shares surged as the bank's overall financial results still beat forecasts. On a broader scale, European banks like Deutsche Bank also reported strong earnings, benefiting from a rebound in dealmaking activities.
#Barclays, #DeutscheBank and #BNP all have big ambitions for investment bank and trading revenue growth - one of them is already falling behind >> https://t.co/Mi1ywz9BBE via @opinion https://t.co/OEvuCMyfU2
WATCH: On a huge day for European earnings, Deutsche Bank beat forecasts as it enjoyed a rebound in dealmaking while Barclays said profits dropped less than expected despite a squeeze on mortgage rates https://t.co/w5o8GNF5SR https://t.co/qyhHWcPuWT
Barclays shares surge as bank beats forecasts despite drop in profits https://t.co/SXtVVk2WPu
On a huge day for European earnings, Deutsche Bank beat forecasts as it enjoyed a rebound in dealmaking while Barclays said profits dropped less than expected despite a squeeze on mortgage rates https://t.co/4fUkS7nvtC https://t.co/eXGDEyvvzV
Barclays profits tumble 12% as UK interest rates hit mortgage demand https://t.co/sEAL5c5anQ
Barclays posts first-quarter revenue that tops estimates after its stock traders collected a surprise windfall from tumultuous global markets https://t.co/KPMhkJd7L7