May 10, 2019 / 5:05 PM / 7 months ago

BUZZ-TMX Group: Q1 profit beat drives shares to record high

** Shares of Canada’s biggest stock exchange operator up ~7% at C$90.54; trading at a record high

** Reports Q1 adj EPS of C$1.30, beating analysts’ ests of C$1.23, driven by growth in units such as global solutions and derivatives trading

** While slower capital markets activity impacted the performance of equities listings and trading businesses, co saw strong performances in core Trayport and derivatives trading and clearing units - CFO John McKenzie,

** Separately, TMX’s unit Trayport Ltd to buy Vienna-based VisoTech, a European short-term energy trading solutions provider

** National Bank of Canada raises PT to C$97 to C$103; says Trayport growth keeps “humming” with solid unit and revenue growth

** Trayport is a meaningful component of the growing LNG trade, executing over 75% of Dutch TTF volumes as well as the majority of Asian JKM contract trading - NBC

** 5 of 6 brokerages rate the stock “buy”, 1 “hold”; median PT C$99.50

** Including Friday’s gains, stock up ~28% compared with a ~13% rise in the Toronto Stock Exchange 300 Composite Index (Reporting by Shanti S Nair in Bengaluru)

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