Banks post sluggish first-half results
Barclays Capital said its fixed-income currencies and commodities (FICC) revenues fell by 40% over the first half of last year to £4.95 billion, from £8.23 billion. The drop reflected lower contributions from rates and commodities, and higher funding costs driving reduction in net interest income. As a result, the business made up 69% of BarCap's top-line income, down from 76% in the first half of 2009.
Equities and prime services income also fell, by 18%, to £1.06 billion this year, from £1.29
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