Pan-European exchange Euronext on Monday posted a better-than-expected 26.4 per cent jump in third-quarter core earnings, helped by its acquisition of the Irish Stock Exchange, higher listings and a rise in trading volumes. Euronext Dublin, which the group acquired in March 2018 for €158.8 million, contributed revenues of €8.1 million during the period. Last month Euronext said it would cut 16 per cent of the workforce at the Irish Stock Exchange as part of efficiency savings. The company said clearing revenue rose 11.6 per cent to €14.2 million in the quarter. Euro clearing has become a Brexit battleground as some EU policymakers want it moved from London, where London Stock Exchange dominates, to the single currency area after Britain leaves the bloc in March, threatening the city’s role as a global financial centre.– Reuters

Source: The Irish Times November 12, 2018 10:25 UTC