NYSE Euronext Sees Steep Profits Fall After Failed Deutsche Boerse Merger

NYSE Euronext said profits fell by nearly a third in the first three months of the year as share market trading slowed in the wake of the ongoing sovereign debt crisis in Europe.

A 17 percent fall in revenues to $952m hit the bottom line at the world's biggest stock exchange, cutting profits by 32 percent to $121m. The company also said its failed merger with the Deutsche Boerse, which was rejected by European regulators in February, cost around $16m, bringing the first quarter total of fees linked to mergers and market exits to around $31m.

Deutsche Boerse reported a 31 percent drop in net income for its fiscal first quarter last week, with revenues slipping 1.1 percent to €552.4m.

NYSE Euronext shares closed at 27.07 in New York Friday, little changed on the day. The shares have declined by around 12.3 percent since the EU's rejection of the $9.5bn tie-up with the Deutsche Boerse.