Barclays Plc is buying back a further £1 billion ($1.3 billion) worth of shares after its traders turned in a better-than-expected quarter.

A big winner from the market volatility sparked by President Trump's tariffs: traders at Barclays. Income from the U.K. bank's markets business jumped 26% in the second quarter from a year earlier in sterling terms.

Barclays' first-half profit rose by a better-than-expected 23%, the British bank said on Tuesday, as its markets business reaped bumper returns from the frenzied trading activity sparked by U.S. President Donald Trump's trade tariffs.