Why Barclays (BCS) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Barclays Plc (BCS) are down -3.13% to $16.74 in pre-market trade after the bank reported a bigger-than-estimated decline in first quarter profit as a decline in revenue from trading bonds, currencies and commodities cut earnings from the investment bank by 49%, Bloomberg reports.

Pretax profit, excluding swings in the valuation of the lender's debt, were down 5% percent to 1.69 billion pounds, or $2.9 billion, missing the 1.82 billion-pound estimate of analysts provided by the bank, according to Barclays.

Income from FICC, traditionally the largest source of revenue for the investment bank, declined 41% to 1.2 billion pounds.

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