Stock Market News

Nomura shares drop more than 7% after quarterly profit tanks

2023.04.26 21:22


© Reuters. FILE PHOTO: A logo of Nomura Holdings is pictured in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai//File Photo

TOKYO (Reuters) -Nomura Holdings Inc shares dropped more than 7% early on Thursday after Japan’s biggest brokerage posted a sharp fall in quarterly net profit as worries about a global banking crisis roiled markets and hit its investment banking business.

Nomura on Wednesday reported a 76% fall in January-March net profit, joining Wall Street investment banks in reporting a slump in dealmaking fees as global mergers and acquisitions activity shrank to the lowest level in more than a decade in the last quarter.

Investors have grown more cautious about volatile markets as a banking crisis that began with the collapse of Silicon Valley Bank spread to Europe with the sale of Credit Suisse Group AG to its Swiss rival UBS Group AG (SIX:).

Moody’s (NYSE:) Japan senior analyst Tomoya Suzuki also blamed rapidly rising interest rates around the world and geopolitical tensions for dampened investor sentiment.

“Moody’s has a negative outlook on Nomura Holdings’ rating, reflecting structural challenges to the company’s profitability in the domestic retail segment,” Suzuki wrong in a report.

Nomura’s wholesale division, which houses its investment banking and trading businesses, sank into the red for the second consecutive quarter with a pre-tax loss of 14.2 billion yen ($106.24 million). Costs also ballooned at the division due to global inflation and a weaker yen.

Its shares were down 7.5% in early trade, marking the biggest daily fall since March 2021.

($1 = 133.6600 yen)

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 83,196.29 1.32%
ethereum
Ethereum (ETH) $ 1,879.82 2.86%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.30 4.24%
bnb
BNB (BNB) $ 599.94 1.97%
solana
Solana (SOL) $ 126.99 5.46%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.701783 6.16%
dogecoin
Dogecoin (DOGE) $ 0.16879 3.67%
tron
TRON (TRX) $ 0.213771 3.83%
staked-ether
Lido Staked Ether (STETH) $ 1,878.87 2.82%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,045.25 1.11%
pi-network
Pi Network (PI) $ 1.39 4.88%
leo-token
LEO Token (LEO) $ 9.55 1.69%
chainlink
Chainlink (LINK) $ 13.45 4.23%
the-open-network
Toncoin (TON) $ 3.40 1.77%
usds
USDS (USDS) $ 0.999818 0.04%
stellar
Stellar (XLM) $ 0.266596 2.63%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,247.18 2.83%
hedera-hashgraph
Hedera (HBAR) $ 0.184792 3.67%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 4.23%
avalanche-2
Avalanche (AVAX) $ 18.39 0.96%
sui
Sui (SUI) $ 2.24 4.74%
litecoin
Litecoin (LTC) $ 89.72 3.48%
mantra-dao
MANTRA (OM) $ 6.82 3.66%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.44 3.09%
polkadot
Polkadot (DOT) $ 4.24 2.66%
ethena-usde
Ethena USDe (USDE) $ 0.99962 0.01%
weth
WETH (WETH) $ 1,880.08 2.84%
bitget-token
Bitget Token (BGB) $ 4.36 2.10%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998326 0.13%
hyperliquid
Hyperliquid (HYPE) $ 13.20 8.02%
whitebit
WhiteBIT Coin (WBT) $ 28.46 1.49%
wrapped-eeth
Wrapped eETH (WEETH) $ 1,995.41 2.87%
monero
Monero (XMR) $ 211.94 0.33%
uniswap
Uniswap (UNI) $ 6.09 0.85%
susds
sUSDS (SUSDS) $ 1.04 0.05%
dai
Dai (DAI) $ 1.00 0.00%
aptos
Aptos (APT) $ 5.15 3.66%
near
NEAR Protocol (NEAR) $ 2.52 4.76%
okb
OKB (OKB) $ 48.85 4.81%
pepe
Pepe (PEPE) $ 0.000007 7.59%
mantle
Mantle (MNT) $ 0.819562 9.29%
internet-computer
Internet Computer (ICP) $ 5.57 4.01%
ethereum-classic
Ethereum Classic (ETC) $ 17.46 2.65%
ondo-finance
Ondo (ONDO) $ 0.820813 5.64%
gatechain-token
Gate (GT) $ 21.26 1.60%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,215.30 1.28%
aave
Aave (AAVE) $ 165.33 4.25%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.87 1.63%