Barclays bank profit jumps on US tariffs volatility

London: British bank Barclays posted on Tuesday second quarter profits that beat expectations as traders benefitted from volatility in global markets...

London: British bank Barclays posted on Tuesday second quarter profits that beat expectations as traders benefitted from volatility in global markets caused by US President Donald Trump's tariff blitz.

Net profit jumped 34 percent to £1.7 billion ($2.3 billion) in the three months to the end of June, compared to one year earlier, Barclays said in an earnings statement.

Trading activity was boosted for the second quarter in a row after Trump's return to the White House.

The bank said the boost to its global markets income reflected "continued support provided to clients through a volatile market environment".

Sharp fluctuations in financial markets were exacerbated by Trump's announcement of sweeping tariffs on global trading partners in April, which subsequently flip-flopped, driving up volumes of financial transactions.