|Deutsche Boerse earnings plunge 60pc
German stock market operator Deutsche Boerse said third quarter earnings were down 61 percent compared with a year ago, dragged lower by the costs of a US legal settlement.
Net profit fell to 61.6 million euros, far below 148 million euro average forecast of analysts polled by Dow Jones Newswires.
Deutsche Boerse said its earnings were hit by 84.9 million euros set aside in exceptional costs as part of a possible settlement of a complaint against Clearstream, its Luxembourg-based clearing subsidiary.
Clearstream stands accused by the US government of transferring frozen Iranian assets out of the United States in violation of sanctions.
A settlement was agreed last month but the final amount has yet to be announced.
Net revenue fell by 2.8 percent to 458 million euros.
Gregor Pottmeyer, Deutsche Boerse's chief financial officer, said the group's revenue was also hurt by lower trading activity and ``extremely low'' interest rates.
The operator of the Frankfurt stock exchange said it expected net revenue of 1.9 billion euros for the year.—AFP