Merrill Lynch downover global take

Merrill Lynch said that weak activity in its global markets and investment banking contributed to a decline in third quarter earnings compared to a year ago.

Merrill earned $920m, or 93 cents per share, down from $1bn, or $1 per share last year. The company beat by a penny per share the forecast of 92c in a survey of analysts by Thomson First Call. Revenue fell 3% to $4.8bn.