Wall Street Trading Records Set Higher Bar for European Banks

EarningsIndustry
โดย Bloomberg·Read original
Summary · why it matters

Wall Street banks including JPMorgan Chase and Goldman Sachs posted record equities trading revenues in the second quarter, raising the bar for European lenders. Goldman Sachs reported net equities trading revenue of $7.42 billion, a 72% jump from a year earlier, while JPMorgan also notched a record three months. UBS equities revenue rose 53% to over $2.3 billion for the second straight quarter, but an analyst noted it was not quite as good as US banks. Barclays equities trading revenue jumped 45%, yet shares fell nearly 5% as the performance lagged Wall Street peers. Deutsche Bank fixed-income revenue rose 16% to €2.6 billion, beating the 13% average increase at US rivals, and its stock rose as much as 6%. BNP Paribas equities revenue climbed 43% to €1.4 billion, but shares dropped over 3% on higher loan-loss provisions. European banks are also expanding prime brokerage units, with UBS financing revenue up 40% and Barclays citing prime financing as a driver, though they face stiff competition from US firms like Citigroup, which plans to grow its prime brokerage balances to more than $700 billion by 2028.

Impact on stocks 8

Financials± Mixed · 6 stocks
BNP Paribas SA
BNP
▼ NegativeCapitalrelevance

Shares dropped over 3% on higher loan-loss provisions, despite equities revenue climbing 43%.

Goldman Sachs Group Inc
GS
▲ PositiveDemandrelevance

Goldman Sachs posted record equities trading revenue of $7.42B, up 72% YoY, indicating strong demand for its trading services.

Barclays PLC
BARC
▼ NegativeCompetitionrelevance

Barclays equities trading revenue jumped 45% but shares fell nearly 5% as performance lagged Wall Street peers, indicating competitive disadvantage.

Deutsche Bank Aktiengesellschaft
DBK
▲ PositiveDemandrelevance

Deutsche Bank fixed-income revenue rose 16% to €2.6B, beating US rivals' average 13% increase, and stock rose up to 6%.

UBS Group AG
UBSG
▲ PositiveDemandrelevance

Equities revenue rose 53% to over $2.3 billion for the second straight quarter, with financing revenue up 40%.

Digital Finance & Tokenization± Mixed · 2 stocks
JPMorgan Chase & Co
JPM
▲ PositiveDemandrelevance

JPMorgan also notched a record three months in equities trading revenue, reflecting strong client activity.

Citigroup Inc.
C
▼ NegativeCompetitionrelevance

European banks expanding prime brokerage face stiff competition from Citigroup, which plans to grow prime brokerage balances to over $700B by 2028.

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