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CME second quarter earnings fall as hedging demand slows
CME Group (CME.O), the world’s biggest futures exchange operator, on Wednesday reported lower second-quarter profits as fiscal and monetary steps taken to ease the economic impact of the coronavirus pandemic slowed hedging demand for some of its products. Net income attributable to the company fell to $503.3 million, or $1.40 per diluted share, in the quarter ended June 30, from $513.8 million, or $1.43 per diluted share, a year earlier. Stripping out one-time items, such as acquisition costs, the Chicago-based company earned a profit of $1.63 per share, beating the mean estimate of analysts by a penny, according ... (full story)