NYSE Euronext first-quarter profits slump 32%
- 30 April 2012
- From the section Business
NYSE Euronext has said profits fell by almost a third in the first quarter as activity on its exchanges slowed.
The group reported a profit of $121m (£74.4m) and revenue of $952m, down 17% from the same period last year.
NYSE Euronext owns the Paris and Brussels stock exchanges and London's LIFFE derivatives market.
It was also hit by a $16m charge related to the failed merger attempt with Germany's Deutsche Boerse, which was blocked by the European Union.
"Our first-quarter results reflect the challenging operating environment which carried over into 2012 and will continue to result in near-term headwinds," said Duncan Niederauer, NYSE Euronext's chief executive.
NYSE Euronext was forced to abandon its plan to merge with Deutsche Boerse in February after European competition regulators rejected the deal.
The European Commission said the deal would have created a "near monopoly" in European financial derivatives.