Earnings up at TMX Group
TMX Group, the operator of the Toronto Stock Exchange, reported higher-than-expected quarterly earnings on increased revenue from new listings and derivatives trading, along with lower operating expenses.
But its second-quarter net income fell, due to one-time charges linked to the failed merger with the London Stock Exchange and charges associated with a rival bid from Maple Group, a consortium of Canadian financial firms and pension funds.
The Maple Group, earlier this week extended the deadline for its £2.4bn bid to September 30, as it seeks the necessary regulatory approvals.