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State Street posts 8% rise in Q1 profits

State Street says net income to to $443m in first three months of 2012
State Street says net income to to $443m in first three months of 2012

US-based financial services holding company State Street has reported an 8% increase in first-quarter profit.

State Street said it made more money from servicing fees due to stronger global equity markets and higher volumes in forex trading.

Net income available to common shareholders rose to $443m, or 96 cents per share, from $410m, or 84 cents per share, a year earlier.