Barclays

Biggest fine of its type ever issued

FTSE 100 down 0.9%

Follows sacking of Jenkins

Follows sacking of Jenkins

Sovereign wealth fund hit

Standard Life Investments UK manager Thomas Moore has said Barclays can transform itself under the watchful eye of interim chief executive John McFarlane.

Barclays helped boost the FTSE 100 today after chairman John McFarlane announced increased profits and a strict cost-cutting exercise in the interim company's results.

Equity income strategies are set to remain in favour but dividend growth rather than headline yield is becoming increasingly important, according to Henderson High Income's David Smith.

Strong performance from financials bumped up UK payouts to a second quarter record of £29.2bn this year, according to the latest Capita Dividend Monitor.

Barclays is planning to cut over 30,000 jobs in the next two years, after firing chief executive Antony Jenkins earlier this month.