The Wall Street Journal-20080117-Earnings Digest -- Financial Services- Knight Capital Group Inc-

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Earnings Digest -- Financial Services: Knight Capital Group Inc.

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Knight Capital Group Inc. reported a 4.5% rise in fourth-quarter net income on wider profit margins, and its shares jumped $2.43, or 19%, to $14.95 in 4 p.m. Nasdaq Stock Market composite trading. The Jersey City, N.J., stock-trading and asset-management company, which has built a growing business dealing directly with major Wall Street firms as customers, had a 78% rise in average daily trades to 1.67 million. However, its Deephaven Capital Management asset-management unit swing to a, pretax operating loss of $426,000 from pretax earnings of $27.4 million a year earlier. Chief Executive Thomas M. Joyce cited "continued uncertainty in the credit markets" as a driver of Deephaven's performance.