 Nasdaq launched a hostile takeover for the London Stock Exchange |
The US hi-tech stock market Nasdaq has seen quarterly earnings more than triple, helped by strong trade revenue. It comes after Nasdaq had a hostile $5.3bn (�2.7bn) takeover bid for the London Stock Exchange repulsed by shareholders at the weekend.
Fourth-quarter net income was $63m, as against $17.1m in the same period a year before.
The largest electronic exchange in the US also said revenue rose to $447.3m from $259.5m in 2006.
"Overall, good operating results are more important looking forward than costs associated with the failed LSE bid, whose residual stake will likely be transitory," wrote Edward Ditmire, analyst at Fox-Pitt, Kelton.
Nasdaq had offered 1,243p per share for the LSE, and blamed the London exchange's refusal to enter takeover talks for its decision not to raise its bid price.
At the weekend the LSE had consistently rebuffed the Nasdaq takeover offer, dubbing it "wholly inadequate" and has urged shareholders not to sell up.
Nasdaq owns about 29% of LSE shares, and 13.9% of shares in rival New York Stock Exchange.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
