Investment bank Jefferies Group LLC has reported net earnings of $41.7m in the third quarter of 2016, a $2.06m rise on 2015, due to an increase in trading revenue. The bank’s overall trading revenue increased by 24.3% to $343.64m, with the bank’s fixed-income trading revenue standing at $195.34m, an improvement from 2015’s loss of $18.15m. However, the bank’s investment business fell to $294.93m, a 86% drop in a continuing trend for 2016 due to a lack of IPOs and deals.
Investment bank Jefferies Group LLC has reported net earnings of $41.7m in the third quarter of 2016, a $2.06m rise on 2015, due to an increase in trading revenue. The bank’s overall trading revenue increased by 86% to $343.64m, with the bank’s fixed-income trading revenue standing at $195.34m, an improvement from 2015’s loss of $18.15m. However, the bank’s investment business fell to $294.93m, a 24.3% drop in a continuing trend for 2016 due to a lack of IPOs and deals.