Barclays PLC, the U.K.'s second-largest bank, soared in London trading after second-half profit more than doubled, lifted by investment banking and the sale of a fund management unit.

Net income for the six months to Dec. 31 rose to 7.5 billion pounds ($11.8 billion) from 2.66 billion pounds in the year-earlier period, according to Bloomberg News calculations based on full-year results posted Tuesday. That beat the 6.72 billion pound estimate of 14 analysts surveyed by Bloomberg.

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