Energy trading helps JP Morgan post record results
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Trading was the main contributor to the results. Trading – or fixed-income markets – revenues hit a quarterly record of $2.4 billion, up $1.6 billion from 2004 and $1.8 billion from the previous quarter. Energy trading, an area of significant investment, was particularly strong, says the bank.
Fixed-income markets posted an operating profit of $1.1 billion, up $436 million, or 70%, from $627 million in 2004, and up 75% from the previous quarter.
Beau Taylor, JP Morgan’s newly promoted global
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