Jefferies tops its estimates

City A.M. Reporter
JEFFERIES Group saw its trading revenue more than double to $293m (£180.5m) from $141m a year earlier. The midsized investment bank benefited from higher earnings from its fixed-income unit, and said its business expansion in Asia has started delivering.

Jefferies said it also benefited from a pickup in trading across the board in September thanks to fresh stimulus plans from the US Federal Reserve, and that it was gaining market share from larger rivals.