Barclays Q3 profit rises 12% year on year; lender announces £500 million share buyback

Barclays reported a 12% rise in third-quarter pretax profit, to £2.3 billion. The result was broadly in line with expectations.

Strong equities trading and stable costs offset weaker fixed-income revenue, the bank said. The lender also announced a £500 million share buyback.

Investors are assessing the outlook for UK bank taxation, which remains a key factor in the sector's outlook.