Wall Street

Flow Traders’ ‘black-box’ business weighs on results, shares

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Reuters UK

By Juliette Portala and Lina Golovnya (Reuters) -Shares in Flow Traders tumbled on Friday after the Dutch trading services provider reported a sharp drop in quarterly earnings, dampened by lower-than-expected trading income and costs of a strategic review. “Once again this quarter demonstrates the black-box nature of the trading business,” KBC Securities analyst Thomas Couvreur wrote, noting a decline in the business’ visibility due to the firm’s many strategic projects. Flow Traders, which listed on Euronext Amsterdam in 2015, recorded a 8.5-million-euro ($8.61 million) one-off in strategic a…

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