Barclays announces surprise $670 million share buyback

Core Viewpoint - Barclays Plc reported a profit and announced a £500 million ($667 million) share buyback, indicating strong capital generation for shareholders over the past nine quarters [1][2]. Financial Performance - The pre-tax profit for the third quarter was £2.1 billion, slightly below analysts' expectations, representing a 7% decline from the same period in 2024 [2]. - Return on Tangible Equity for the quarter was 10.6%, down from 12.3% a year earlier, with earnings per share at 10.4 pence [3]. Investment Banking Division - Income in the investment banking division increased by 8% year-on-year, contributing to the overall performance of Barclays [3]. - Strong investment banking returns have positively impacted European financial stocks, with the Stoxx 600 Banks Index gaining over 55% in 2025 [3]. Market Context - Other industry leaders, such as JPMorgan Chase and Goldman Sachs, also reported stronger-than-expected third-quarter earnings, driven by performance in their investment banking units [4].