Barclays bank has reported lower half year figures down 21% to £2.06 billion but the share price is seen as cheap and the further provision of £400 million for PPI nodded through as the end of a miserable era.

The main Barclays business advanced by 19% to just under £4 billion while the peripheral non core business, is still proving to be a lead weight, with losses from this area extending by over £1 billion for the period to £1.9 billion.

However, with the strategy already in place to reduce all noncore business, the market has chosen to focus on the positives and Barclays shares moved higher by over 8%