By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Shares of Barclays PLC climbed to the
top of the U.K. benchmark stock index on Wednesday, standing out in
an otherwise downbeat market where the trading mood was subdued
after a new round of sanctions on Russia.
The FTSE 100 index lost 0.5% to close at 6,773.44, after posting
a 0.3% gain on Tuesday.
Barclays (BCS) put on 4.2% after the bank said it swung to a
profit in the second quarter. Chief Executive Antony Jenkins said
the company is making progress in slimming down the business, an
effort to make it less dependent on its investment banking
division.
Travis Perkins PLC climbed 2.7% after the building materials
supplier posted a 14.1% increase in first-half pretax profit.
On a more downbeat note, shares of Antofagasta PLC lost 4.6%
after the miner said it was on track to meet its full-year
guidance, but that cash costs rose in the second quarter.
Tullow Oil PLC slipped 1.1% after the oil explorer said it swung
to a loss in the first half of the year.
More broadly, investors were cautious in moving further into the
stock market as they analyzed the consequences of tougher sanctions
on Russia. The U.S. and European Union said late Tuesday they would
impose stricter restrictions on the country, targeting its energy,
banking and defense sectors.
In U.K. specific news, the Bank of England's Prudential
Regulation Authority laid out new rules designed to claw back
banker bonuses up to seven years after they are received. The pay
back would happen if an employee was found to have misbehaved or
contributed to a failure in risk management.
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