Barclays puts FTSE back on track

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In the UK the FTSE 100 Index has started positively, adding about 8 points to 5323.20 this morning, led by Barclays.

The high street bank has picked up 22p or 4% to 581p, after reporting a 9% increase in pre-tax profits to £2.69bn in the six months to 30 June, on the back of record results at Barclay's investment banking arm. Barclays' investment banking unit, Barclays Capital, reported a 20% increase in profit to £703m, however, bad debts within its credit card business, Barclaycard sent profits 17% lower to £379m. Fashion retailer Next, leads fallers, down 18p to 1553p, along with mining firm BHP Billiton, down 9p to 816p. After an 11% decline yesterday, Amvescap has clawed back 9.25p to 378.5p, ...

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