Tuesday preview: IG Group reports half year results

19th Jan 2015 15:21

IG Group reports its first half results amid reports that the spread betting firm took a hit from the Swiss National Bank's (SNB) shock policy decision.The company last week said it faces a £30m of losses after the central bank decided to end a cap on the franc against the euro. The monetary authority's decision saw the value of the Swiss franc surge, causing the firm to close positions held by its clients.The market will be looking to see if the group makes further mention of the issue in its interims. Revenue is forecast to come in at £192m, compared to £182.7m a year earlier, with growth across all its geographies."We believe the period should have helped the new Stockbroking business get off to a good start in terms of customer numbers and trading activity," Numis said."Revenues are expected extremely modest given the introductory offers available. We expect continued growth in share of revenues being earned in Europe and believe that this business can grow to be many times its current size."On the macro-economic front, a raft of data out of China will be released early on including industrial production and retail sales.ZEW publishes its index on Eurozone economic confidence for January which is forecast to rise amid speculation the European Central Bank (ECB) will introduce full-blown quantitative easing at its policy meeting on Thursday.Tuesday 20 JanuaryINTERIMS1pm, IG Group HoldingsINTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER) (07:00)ZEW Survey (EU) (10:00)ZEW Survey (GER) (10:00)AGMSCatalyst Media Group, European Investment Trust, Lowland Investment CoTRADING ANNOUNCEMENTSDragon Oil, IQE, William Hill