A "particularly poor" three months for fixed income, currencies and commodities revenues kept second-quarter profits muted at Barclays' investment bank, compared with a year ago – but a rising tide in equities helped steady the ship.

The UK bank this morning posted results for the second quarter, reporting revenues of £3 billion at the investment bank, down 13% quarter-on-quarter and flat against the second quarter of 2012. Pre-tax profits, at £1.1 billion, were down 18% quarter-on-quarter but up 1% year-on-year.