U.S. News

Euronext Says Profits Rose 29% in Fourth-Quarter


Stock exchange operator Euronext said Tuesday that fourth-quarter profits rose 29% in what is likely its last financial report before being acquired by the NYSE .

The company said net profit for the quarter came to 90.7 million euros ($119.3 million), up from 70.4 million euros in 2005. Sales rose 5.9% to 282 million euros ($371 million) from 266 euros million.

Euronext credited increased cash and derivatives trading revenues and listing fees.

The New York Stock Exchange's tender offer for Euronext, which values the company at about $14.3 billion (11 billion euros) is due to end March 21. The deal, which would create the first trans-Atlantic stock market exchange, is expected to close by early April "at the latest," Euronext said Tuesday, and the two entities will be merged in a U.S.-based company.

Shares in Euronext were down 1% at 82.75 euros ($108.86) in thin trading in Paris.

Euronext's full-year profit rose 51% to 362 million euros ($476 million), while sales were up 15% to 1.1 euros ($1.44716) billion.