Jefferies bank profits rocket

 
Tim Wallace
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INVESTMENT bank Jefferies yesterday reported solid growth in the second quarter of the year, seeing profits shoot up by more than 50 per cent.

Pre-tax profits came in at $99m (£58m), up from $65.5m in the same period of 2013.

Equity trading revenues rose 25 per cent to $177m, while equity capital markets income rose 56 per cent to $83.7m.

However, it was also hit by a five per cent dive in fixed-income trading revenues to $217.7m.