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Euronext reports 21 percent jump in second quarter revenue
PARIS - European stock market operator Euronext NV reported a 21 percent rise in revenue for the second quarter on Wednesday thanks to buoyant cash and derivatives activities.
Revenues in the second quarter rose to Ð289.6 million (US$371.8 million) from Euro 238.6 million (US$306.3 million) a year ago, the company said in a statement.
The strong showing came as Euronext has been targeted by takeover bids from the New York Stock Exchange and Germany’s Deutsche Boerse AG, amid mounting consolidation in world stock markets. Euronext’s management has chosen the NYSE Group Inc. offer, but Deutsche Boerse said this week it is still pushing for a deal.
“The strong performance has been achieved in spite of the impact of changes in the scope of consolidation,” Euronext noted.
“The first half of the year has been the best one ever for cash and derivatives markets and has created the conditions for all business lines to register an increase in their revenues,” the company added.
The listing fees business revenues grew by 42 percent to Euro 14 million (US$17.9 million) in the second quarter and by 9.8 percent in the first half to Ð22.8 million (US$29.3 million).
Cash trading revenues rose by 54 percent to euro 77 (US$98.8 million) in the second quarter and by 49 percent to Euro 150.1 million (US$192.7 million) in the first half.
Volatility, strong cash markets and the uncertainty surrounding interest rates have helped sustain the derivatives trading revenues which were up 24 percent to euro 107.2 million (US$137.6 million) in the second quarter and up 26 percent to euro 205 million (US$263 million) in the first half, Euronext said.
Euronext shares fell less than 1 percent to euro 189.98 (US$243.91) in Paris trading.
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