Connect with us

Hi, what are you looking for?

Stock

NYSE-parent ICE’s quarterly profit rises on strong trading volumes

(Reuters) – Intercontinental Exchange (NYSE:ICE) reported a higher third-quarter profit on Thursday, helped by strong trading volumes across asset classes due to geopolitical risks and shifting expectations of interest rate cuts.

Conflict in the Middle East and diverging views of the interest rate trajectory have bumped up volatility in the global markets, prompting traders to actively adjust their portfolios to capitalize on fluctuating prices and avoid risks.

ICE’s energy trading volumes rose 23% in the third quarter, with gains across segments including oil, gasoil as well as other crude and refined products. Natural gas average daily volumes increased 33%.

Total revenue from the company’s exchange business, the biggest component of its revenue base, rose to $1.25 billion from $1.11 billion from a year earlier.

The New York Stock Exchange parent reported adjusted earnings of $894 million, or $1.55 per share, in the quarter, compared with $824 million, or $1.46 per share, a year earlier.

This post appeared first on investing.com






    You May Also Like

    Editor's Pick

    Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

    Latest News

    A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

    Economy

    A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

    Investing

    Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

    Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 balanceandcharge.com