BarclaysOn Thursday, the company reported higher-than-expected profits for its third quarter. This was in response to Wall Street competitors who received a substantial boost from their investment banking division.

The British bank reported attributable profit of £1.45 billion for the third quarter. Analysts had expected a net income of £931.25 million, according to Refinitiv data, and the figure marks a significant increase from the £611 million reported in the same period last year.

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