Jefferies Trading Climbs Even With Rivals Predicting a Decline
- Bigger rivals to have tough June in their quarterly results
- ‘The swing factor is what’s going to happen in June’
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One firm is out with positive trading results, but that may mean little for the rest of Wall Street.
Jefferies Financial Group Inc., among the first financial firms to report second-quarter results and often seen as a harbinger for its competitors, said trading revenue jumped 29% from a year earlier. In a statement, Jefferies touted its ability to “continue to take market share in our equities business” and its expanding footprint, with hiring in research, sales and trading in Japan, Hong Kong and elsewhere.