Barclays shares were able to leap forward as results were less than what was previously feared along with the new sanctions for Russia caused upheavals and ripples in the markets.

Barclays (BARC) led the FTSE 100 risers to jump 4.7 % to 229.4p following results for the second quarter proved to be less than a terrible than investors had feared.

Barclays reported an 8 % decline in profits in the second quarter as financial institutions attempt to clamp down on high-risk trading resulted on its investment banking division. Investment revenues fell 18 % to £4.2 billion.

Investment revenues also declined to £4.2 billion over the first half of the year, not as a hefty drop as some experts earlier forecasted. It set aside an additional £900 million to pay off the customers misappropriation payment protection insurance.

The beat was at several levels with better-than-expected performance on revenue, costs and impairments. The shares have been considered awful performers of late so the profit beat and good progress on capital should come as a welcome reprieve to the current market.

Barclays’ more than average performance during last week’s trading follows the sharp leap in Royal Bank of Scotland (RBS) shares at the end of last week as the bank reported a disclosure profits. The strong showing of Barclays also assisted in lifting stocks across the banking sector which is up 0.5 %. RBS was able to rise 2 % to 361.p while Lloyds Banking Group (LLOY) rose 0.7 % to 76.1p.

Financial stocks were assisted by the FTSE 100, which traded eight points or, 0.1 % lower at 6,799 points. The sterner European Union and U.S. sanctions against Russia had only resulted to a limited impact on the index as they were largely priced before. The measures imposed on the target state-owned banks a restriction on sales incentive technology and the exportation of equipment for the country’s oil industry.

ITV on the meantime, was able to gain some foothold following the broadcaster posted an 11 % increase in first-half earnings which were assisted by the impact of the recently concluded Word Cup. Shares edged 0.3 % higher to 205.5p on the recent news.

Antofagasta (ANTO) was the largest faller on the FTSE 100, albeit the miner reporting a 5 % rise in its output copper by the second quarter. The share fell to a predictable pattern throughout the year of underperformance as against the current sector.

Analysts predicted that the Anto shares provided investors an enticing trade-off between risk and reward which were recommended to investors in purchasing Anto commodities, especially during last week’s frail trades.

The British American Tobacco (BATS) was likewise another faller which shed a total of 30.5p or 0.9 % to £35.36 as it indicated lower than predicted revenues for the first half of the year was severely affected by the stronger pound.

Small cap stock 4imprint (FOUR) was among the top raisers after the promotional gifts group recently announced astonishing first half results that were noticeably stronger despite the U.S. dollar currency weakness. Mid cap stock Jupiter Fund Management (JUP) declined 3.8 % to 399.4p as its results for the first semester brought disappointments among investors.

Profits before tax amounted to £75.1 million over the same period which was still below the £80.7 million analysts at Barclays had been predicting. The cause of this overlooked figure seems to be a weaker than expected net revenue with management fee margins on the decline to 0.87 %.