Barclays [LON:BARC] delivered a strong set of results at the end of last month, driven by robust performance in their investment bank. Global Markets stood out, with Q2 FICC and Equities revenues up 25% and 26% year-on-year respectively, though partially offset by currency movements in favour of the pound.
The Barclays share price has been doing well since April, following a big sell-off in the wake of Donald Trump's infamous Liberation Day. Shares have risen from £2.42 to hit recent highs of around £3.75 at time of writing. This builds on solid returns of +39% YTD and +69% over 12 months. The share price rises look respectable compared to other banking stocks like NatWest, which we wrote up for our AT+ subscribers earlier this week.
Ongoing market volatility and geopolitical tensions continue to support this momentum, and while the second half may see a more muted impact compared to H1, these dynamics remain supportive of performance. Outside of the investment bank, Barclays' structural hedge should continue to act as a tailwind for net interest income and support stable income growth moving forward.
Alongside the announced £1 billion share buyback, Barclays’ strategic focus on acquisitions such as Tesco Bank should help expand market share and shift revenue toward more stable sources in line with their 2026 targets.
Our own analysis sees some mixed signals coming out of the latest Barclays numbers however.
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