Barclays, UBS, BNP Paribas Lift Equity Trading Revenue 46%-53% as US Rivals Top 70%
Updated
Updated · Bloomberg · Jul 30
Barclays, UBS, BNP Paribas Lift Equity Trading Revenue 46%-53% as US Rivals Top 70%
3 articles · Updated · Bloomberg · Jul 30
Summary
Barclays and UBS posted second-quarter equity trading revenue gains of 46% and 53% in dollar terms, extending a European surge after BNP Paribas reported a 47% rise last week.
Those results show Europe’s big banks joining the global stock-trading boom, but they still trail the biggest US banks, where four firms delivered gains of more than 70%.
The gap reflects the US leaders’ much larger businesses lending to hedge funds and other leveraged traders, a key engine of second-quarter trading strength.
That catch-up trade carries risk: when market conditions reverse, stock-trading businesses tied to hedge-fund activity can turn sharply lower.