Jefferies & Co., the New York-based investment bank, said on Tuesday its third-quarter net income rose to a record $86.3 million, or 42 cents a share, compared with a loss of $31.3 million, or 18 cents a share, a year ago.

Jefferies' revenues of $700 million in the third quarter were a record. Much of the third-quarter gains in revenues were tied to increased revenues in equities, fixed income and commodities as well as high yield.

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