Barclays announces £750 million share buyback amid earnings upgrade

Barclays (BARC.L) announced a new 750 million pound ($957 million)share buyback and upgraded its longer term earnings guidance on Thursday, driven in part by an upswing in trading income that offset a 9 per cent profit fall over the first half of 2024.

The British bank now expects to make a return on tangible equity (ROTE) greater than 12 per cent by 2026, compared with a 10 per cent-plus target in 2024, and to generate annual income of 30 billion pounds in 2026.

In keeping...