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Jefferies quarterly profit jumps as trading revenue surges 86%

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Jefferies Group, the investment bank owned by Leucadia National Corp., said trading revenue surged 86 per cent, adding to gains three months earlier.

“Aside from a volatile two-week period following the unexpected outcome of the U.K. ‘Brexit’ referendum in June, fixed-income and equity secondary market conditions remained reasonably steady for much of the third quarter,” Chief Executive Officer Richard Handler said in the statement.

“However, new issue activity continued to be slow industrywide for most of the period.”

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Paul

The author Paul