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Monday, February 9, 2009

Stocks slump hits NYSE Euronext

NYSE Euronext has reported a $1.34bn (£904m) quarterly loss after weakened global share markets forced it to reduce the value of its assets.
Stocks, Bonds & Forex Trading source: news.bbc.co.uk


NYSE Euronext, which was formed by a merger in 2007, said the write-down of its assets totalled $1.59bn.

The loss for the October to December period compares with a profit of $156m for the same period a year earlier.

NYSE Euronext runs the New York, Paris, Lisbon, Brussels and Amsterdam exchanges.

The company's net quarterly revenues were down 2% to $683m. Its annual net loss for 2008 totalled $738m.

It also announced that it was suspending its share buyback programme because of the bad market conditions.

"During this period of unprecedented market dislocation and uncertainty, we continue to focus on executing and delivering against our key strategic initiatives which will drive our long-term growth," said NYSE Euronext cheif executive Duncan Niederauer.

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