Profits at Barclays’ investment bank rose 6% in the second quarter, helped by a gain from the sale of a stake in Tradeweb, the bond platform. But underlying trading performance is unlikely to ease the concerns of Edward Bramson, the activist investor keeping a watchful eye on the division.

On August 1 Barclays reported second-quarter group revenues of £5.5bn, flat compared with a year ago. Net profits fell 18% year on year to £1.2bn due to higher costs and credit-impairment charges.