J.P. Morgan, First Chicago Report More Modest Foreign Exchange Trading Gains In First Quarter
BANKS
J.P. Morgan, which declined to break out foreign exchange trading revenues this quarter after posting record gains in the first quarter of 1991, noted that foreign exchange trading gains were more modest in the latest period. However, despite what the bank referred to as "disappointing results in trading revenue," net income was up 10 percent from the same period a year ago, to $299 million.
Although some analysts were expecting lackluster trading results this quarter, sources close to the bank
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