Barclays Bank profits down

Barclays Bank reports profits of £2.6billion for the last 6 months, 33% lower than the same period last year but slightly above the Bank's and analysts estimates.

Barclays has also set aside £1billion for claims resulting from Insurance Policy mis-selling and they are not alone in this respect.

In a market that has absorbed the US debt ceiling agreement and has resumed a negative trend today, Barclays shares have opened 2% higher as the overall figures were not as bad as expected.

The markets await figures from both RBS and Lloyds Bank later in the week.