Investment Banking

European banks notch $5.5bn in Trump stock trading boost

Trading windfall set to continue in second quarter as tariffs rattle markets

Stock trading revenue has surged to record highs at many investment banks
Stock trading revenue has surged to record highs at many investment banks Photo: Michael Nagle/Getty Images

European banks notched blockbuster stock trading revenues in the run-up to US president Donald Trump’s tariff war, with further volatility tipped to bolster performance in the second quarter.

UBS, BNP Paribas, Barclays and Société Générale generated around $5.5bn in combined equities trading revenue during the first three months of 2025, according to a Financial News analysis of company filings.

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