Shares in Barclays climbed on Monday after the Financial Times reported on Sunday that a major US hedge fund had invested more than $1bn in the UK bank.
The FT reported that Tiger Global had "quietly" amassed a $1bn stake in Barclays representing about 2.5% of the total share capital as the hedge fund backed plans by the bank's chief executive Jes Staley to introduce reforms at the business.
Reforms and results
Such reforms include plans to concentrate on the bank's lucrative US-led investment bank unit and its UK-based retail banking division.
Barclays was expected to report an annual net loss when it delivers its 2017 results next month - much of the loss, however, is to cover an already known one-off tax charge following US reforms of its tax laws last month.