PARIS, (MILLAT/APP/AFP) – European stock market operator
Euronext said Wednesday that cost-cutting enabled it to lift profits
last year despite market volatility triggered by Brexit and the US elections.
Euronext, which operates the Paris, Amsterdam, Brussels and
Lisbon stock exchanges, said in a statement that bottom-line net
profit grew by 14.1 percent to 197 million euros ($208 million) in
2016, despite a 4.3-percent drop in revenues to 496.4 million
euros.
Investor confidence had taken a knock from political
uncertainty and volatility related to Britain’s shock decision to
quit the European Union and the election of Donald Trump as
US president, Euronext said.
Nevertheless, belt-tightening helped offset the decline
in revenues.