LONDON, April 24 (Reuters) - Barclays Plc said itsinvestment bank had seen a "significant" fall in income in itskey fixed income business in the first quarter, continuing aslump seen across the industry last year.
Barclays said it will report a "small reduction" in adjustedpretax profit for the first quarter compared to a year ago, asimprovements in costs partially offsets the drop in investmentbank profits. Barclays will report its first quarter results onMay 6.
"Our fixed income, credit and commodities (FICC) businesscontinued to face many of the challenges seen in the second halfof 2013 with a significant year-on-year reduction in FICCincome, reflecting difficult market conditions and a strongcomparative performance for Q1 last year," Barclays said in astatement ahead of its annual shareholder meeting on Thursday. (Reporting by Steve Slater; Editing by Matt Scuffham)