Van der Moolen turns loss into profit

The financial markets watchdog AFM suspended trading in brokerage Van der Moolen for several hours on Tuesday after a press release with the company’s half year results was lost two days before publication, reports ANP news service.

Van der Moolen released its figures later in the day announcing first half year profit of €12.7m compared to a loss of almost €14m a year earlier.
The company also announced that it is scrapping its internet brokerage Online Trader which has offices in London, Paris and New York. The move, which means 35 jobs will be axed, will save Van der Moolen €4.5m next year, reports ANP.

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