Euronext sales hit record on back of 'exceptional market volatility'
The group, which operates exchanges in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris, has benefited from disruptions caused by U.S. President Donald Trump's tariffs, which led to financial market turmoil.
CEO Stephane Boujnah said the strong first quarter was a positive signal in terms of efforts to create "a stronger, more innovative and more competitive European capital market."
Last month, Boujnah said there were flows of money leaving the U.S. to be re-invested in Europe due to the trade uncertainties.
The Paris-listed group reported a 17% year-on-year increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to 294.1 million euros ($329.92 million) for the quarter ended March 31, helped by record fixed-income trading, it said.
That was above the 284 million euros analysts had expected on average in a consensus provided by the company.
The company's revenues rose by 14.1% to 458.5 million euros in the same period, beating a consensus forecast of 448.3 million.
KBC Securities said in a note on Tuesday: "We expect the erratic nature of Trump's policies to continue causing elevated volumes going forward."
Euronext said that its European Common Prospectus would address the need to boost initial public offerings (IPOs) in Europe ahead of proposed new listing rules, which it expects will come into effect in June 2026.
Stock exchange operators, including Euronext and its European peers Deutsche Boerse (DB1Gn.DE), opens new tab and the London Stock Exchange (LSEG.L), opens new tab, have struggled to attract many new listings as more companies stayed private and the booming U.S. stock market attracted the biggest names.
Euronext recorded eight new IPOs between January and April, down from 13 in the same period of 2024.
The company is now planning to reissue a paper challenging the belief that U.S.-listed firms attract higher valuations than their European peers, its spokesperson told Reuters, while launching initiatives to encourage investment in the region's defence industry.
($1 = 0.8914 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
27 minutes ago
- The Guardian
Elon Musk's ‘America' party could focus on a few pivotal congressional seats
The new US political party that Elon Musk has boasted about bankrolling could initially focus on a handful of attainable House and Senate seats while striving to be the decisive vote on major issues amid the thin margins in Congress. Tesla and SpaceX's multibillionaire CEO mused about that approach on Friday in a post on X, the social media platform he owns, as he continued feuding with Donald Trump over the spending bill that the president has signed into law. On Saturday, without immediately elaborating, the former Trump adviser announced on X that he had created the so-called America party. 'One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,' wrote Musk, who is the world's richest person and oversaw brutal cuts to the federal government after Trump's second presidency began in January. 'Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring they serve the true will of the people.' Musk did not specify any seats he may be eyeing. In another post on Friday, when the US celebrated the 249th anniversary of its declaration of independence from the UK, Musk published a poll asking his X followers whether he should advance on his previously stated idea of creating the America party to contend against both Republicans and Democrats. More than 65% of about 1.25m responses indicated 'yes' as of Saturday morning. 'Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!' Musk also wrote in text accompanying the poll, which he promoted several times throughout Friday. Musk on Saturday then posted on X: 'Today, the America party is formed to give you back your freedom.' He also wrote: 'By a factor of 2 to 1, you want a new political party, and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.' One of the replies to Musk's announcement that he reposted showed a picture of a two-headed snake near the word 'uniparty' as well as the logos of the Democratic and Republican parties. 'End the Uniparty,' the reply said. Musk in turn responded to the reply with: 'Yes.' He also suggested the party would run during the 2026 midterms. New political parties do not have to formally register with the Federal Election Commission 'until they raise or spend money over certain thresholds in connection with a federal election'. Musk's posts on Friday and Saturday came after he spent $277m of his fortune supporting Trump's victorious 2024 presidential campaign. The Republican president rewarded Musk by appointing him to lead the unofficial 'department of government efficiency', or Doge, which abruptly and chaotically slashed various government jobs and programs while claiming it saved $190bn. But Doge's actions may also have cost taxpayers $135bn, according to an analysis by the Partnership for Public Service, a nonpartisan non-profit dedicated to studying the federal workforce. Musk left Doge at the end of May and more recently became incensed at Trump's support for a budget bill that would increase the US debt by $3.3tn. He threatened to financially support primary challenges against every member of Congress who supported Trump's spending bill – along with promising to 'form the America Party' if it passed. The House voted 218 to 214 in favor of the spending bill, with just two Republicans joining every Democrat in the chamber in unsuccessfully opposing it. In the Senate, JD Vance broke a 50-50 deadlock in favor of the bill, which Trump signed on Friday hours after Musk posted his America party-related poll. The Trump spending bill's voting breakdown illustrated how narrowly the winning side in Congress carries some of the most controversial matters. Trump has warned Musk – a native of South Africa and naturalized US citizen since 2002 – that directly opposing his agenda would be personally costly. The president, who has pursued mass deportations of immigrants recently, publicly discussed deporting Musk from the US as well as cutting government contracts for some of his companies. 'Without subsidies, Elon would probably have to close up shop and head to South Africa,' Trump posted on his own social media platform, Truth Social. The president also told a group of reporters in Florida: 'We might have to put Doge on Elon. Doge is the monster that might have to go back and eat Elon. Wouldn't that be terrible.'
Evening Standard
31 minutes ago
- Evening Standard
Croydon warehouse fire: 80 firefighters battle huge blaze as area locked down
Where to live Golden Visas: the four European countries where you can still get citizenship by buying property Four European countries still offering golden visas to property buyers
Evening Standard
41 minutes ago
- Evening Standard
Dress like a scruffy sixth former, avoid Harry Potter shops
Where to live Golden Visas: the four European countries where you can still get citizenship by buying property Four European countries still offering golden visas to property buyers
