Barclays's Results are Mixed as Clouds Loom

Dow Jones10-22

1016 GMT - Barclays's third-quarter investment bank results are a "real mixed bag" as the upcoming U.K. government budget clouds the bank's outlook, AJ Bell's Russ Mould writes. The company's performance failed to match expectations, as the 500 million-pound buyback program didn't ease investor disappointment, Mould says. Barclays faces "major clouds" from an expected increase to taxes and a reported probe over possible misrepresentation of risks in its private credit portfolio, according to the analyst. The Financial Times earlier this week reported the probe, citing unnamed sources. Barclays told the FT that it takes seriously its regulatory ​obligations in markets where it operates and declined to comment further. It later added that its treatment of total return swaps was "consistent with accounting and regulatory capital requirements". Shares are up 0.3%.

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