August 8, 2008 / 1:21 PM / 9 years ago

Canaccord profit drops on weak capital markets

TORONTO, Aug 8 (Reuters) - Canaccord Capital CCI.TO reported a steep drop in its first-quarter profit on Friday hurt by weak capital markets.

The Canadian investment bank said it earned C$16.5 million ($15.4 million), or 31 Canadian cents a share, down from C$39 million, or 80 cents a share, for the same period last year. ($1=$1.07 Canadian) (Reporting by Scott Anderson; Editing by Peter Galloway)

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