LONDON, April 22 (Reuters) - Barclays Plc said itis quitting the majority of its commodities businesses to join aretreat from the area by a number of banks as tougherregulations make it less profitable.
Barclays will exit from most of its metals, energy andagricultural trading but remain trading precious metals, someoil and gas instruments, and index products, the bank said onTuesday. The smaller business will be focused on electronicexecution, it said.
Barclays is expected to next month unveil a wider reductionin the size of its investment bank, as it attempts to cut costsand improvise profitability by axing areas that have beenhardest hit by tougher regulations. (Reporting by Steve Slater; Editing by Huw Jones)