Stock Market News

NYSE-parent ICE’s profit beats as commodity markets boost trading volumes

2024.02.08 10:45


© Reuters.

By Manya Saini and Laura Matthews

(Reuters) -Intercontinental Exchange beat Wall Street estimates for fourth-quarter profit on Thursday as commodity markets powered progress in trading volumes on the New York Stock Exchange father or mother.

The international commodity and power markets noticed important volatility final 12 months because of excessive climate situations all through the world. Meanwhile, the Middle East battle additionally led to a rise in oil trading volumes.

On an adjusted foundation, Intercontinental Exchange (NYSE:) earned $1.33 per share within the quarter, beating analysts’ estimates of $1.29, based on LSEG information.

The alternate operator’s open curiosity (OI), or the whole variety of excellent spinoff contracts in power, surged 35%. OI additionally jumped 27%.

The firm’s common each day volumes within the power phase rose 35% within the quarter.

Trading volumes at exchanges sometimes do higher in instances of market fluctuations as traders rejig portfolios or when there’s a broad-based rally which reduces risk-off sentiment and encourages riskier trades.

Average each day volumes at ICE elevated 26% within the fourth quarter. For the full-year 2023, it logged progress of 10%.

Intercontinental Exchange’s fourth-quarter consolidated web income rose 25% to $2.2 billion.

ICE’s exchanges phase income, the most important element of its income base, rose 16% to $1.1 billion, powered by a 48% surge in power.

Housed inside the firm’s exchanges phase, the listings unit noticed a 4% decline as preliminary public choices within the United States proceed to stay subdued.

Although analysts and bankers anticipate the IPO market to rebound this 12 months on expectations of a continued rally within the broader markets and firming bets on the U.S. Federal Reserve slicing rates of interest in the summertime, restoration thus far has been uneven.

Noting the corporate’s 18th consecutive 12 months of document revenues and continued earnings-per-share progress, Jeff Sprecher, CEO of ICE, stated the corporate is “better positioned than ever to capitalize on secular and cyclical trends that occur across asset classes.”

ICE’s share worth rose 4.6% after the decision to $134.

Rival Nasdaq final week additionally reported the next quarterly profit on sturdy efficiency at its options enterprise.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 56,761.21 6.07%
ethereum
Ethereum (ETH) $ 3,228.29 2.41%
tether
Tether (USDT) $ 1.00 0.15%
bnb
BNB (BNB) $ 393.14 1.27%
solana
Solana (SOL) $ 107.03 2.12%
staked-ether
Lido Staked Ether (STETH) $ 3,227.27 2.54%
xrp
XRP (XRP) $ 0.572861 4.24%
usd-coin
USDC (USDC) $ 1.00 0.04%
cardano
Cardano (ADA) $ 0.610701 0.04%
avalanche-2
Avalanche (AVAX) $ 38.83 0.70%
dogecoin
Dogecoin (DOGE) $ 0.095599 9.49%
tron
TRON (TRX) $ 0.141426 1.36%
chainlink
Chainlink (LINK) $ 18.93 0.82%
polkadot
Polkadot (DOT) $ 8.09 1.23%
matic-network
Polygon (MATIC) $ 1.03 3.10%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 56,787.21 6.31%
uniswap
Uniswap (UNI) $ 10.92 2.85%
the-open-network
Toncoin (TON) $ 2.16 0.86%
shiba-inu
Shiba Inu (SHIB) $ 0.00001 7.17%
internet-computer
Internet Computer (ICP) $ 12.95 0.38%
bitcoin-cash
Bitcoin Cash (BCH) $ 296.48 9.32%
litecoin
Litecoin (LTC) $ 73.71 4.12%
dai
Dai (DAI) $ 0.997595 0.32%
immutable-x
Immutable (IMX) $ 3.32 1.38%
blockstack
Stacks (STX) $ 2.99 6.54%
cosmos
Cosmos Hub (ATOM) $ 11.25 1.90%
near
NEAR Protocol (NEAR) $ 3.96 5.06%
leo-token
LEO Token (LEO) $ 4.39 2.99%
ethereum-classic
Ethereum Classic (ETC) $ 27.84 0.46%
filecoin
Filecoin (FIL) $ 7.63 6.38%
bittensor
Bittensor (TAO) $ 623.26 1.41%
kaspa
Kaspa (KAS) $ 0.168737 0.52%
hedera-hashgraph
Hedera (HBAR) $ 0.108233 1.64%
aptos
Aptos (APT) $ 9.85 2.30%
optimism
Optimism (OP) $ 3.70 2.73%
vechain
VeChain (VET) $ 0.048122 3.67%
stellar
Stellar (XLM) $ 0.120241 2.47%
first-digital-usd
First Digital USD (FDUSD) $ 0.999339 0.13%
injective-protocol
Injective (INJ) $ 37.25 0.48%
lido-dao
Lido DAO (LDO) $ 3.53 3.64%
okb
OKB (OKB) $ 51.67 2.34%
mantle
Mantle (MNT) $ 0.904405 1.94%
celestia
Celestia (TIA) $ 16.92 2.99%
render-token
Render (RNDR) $ 7.18 2.08%
crypto-com-chain
Cronos (CRO) $ 0.102498 5.55%
the-graph
The Graph (GRT) $ 0.280522 3.77%
monero
Monero (XMR) $ 135.18 2.62%
arbitrum
Arbitrum (ARB) $ 1.88 1.01%
sei-network
Sei (SEI) $ 0.876242 0.10%
theta-token
Theta Network (THETA) $ 2.03 24.58%