IG Group full-year profit dented by Swiss franc incident
21st Jul 2015 10:56
(ShareCast News) - IG Group posted a 13% drop in full-year pre-tax profit, as the online trading company took a hit from the surge in the Swiss franc in January when the Swiss National Bank announced without notice that it was ceasing intervention in the franc exchange rate. For the year ended 31 Ma
Read moreIG Group CEO to retire after 16 years at online trading firm
21st Jul 2015 08:39
(ShareCast News) - IG Group chief executive officer Tim Howkins will retire from his post at the company's annual general meeting in October. Howkins will also step down from IG's board as a director, the online trading company confirmed on Tuesday. Following the AGM, Peter Hetherington, currently
Read moreLondon pre-open: Quiet start expected after Wednesday's surge
28th May 2015 07:50
Thursday's session is set to start on a quiet note, pausing after strong gains the previous day as reports of a imminent Greek debt deal spurred buying. City sources predict the FTSE 100 will open just a few points lower after surging 1.2% on Wednesday's to close at 7,033.33. "There's been months o
Read moreIG Group on track to deliver against full-year expectations
28th May 2015 07:18
IG Group said on Thursday in a trading update for the fourth quarter that it remains on track to deliver against full-year financial expectations. The company said it made good strategic progress over the period, extending its stockbroking offering into the Netherlands and receiving approval in prin
Read morePlus500 suspended after shares hit by US hedge fund Cable Car Capital's short position
22nd May 2015 09:42
Shares in online retail-focused broker Plus500 were suspended on Friday after falling by more than a third on the day and around 70% over the week due to speculation about regulatory issues and after several major short positions came to light. Shares in Plus500 were down by 37% by 10:00 BST, with s
Read moreThursday newspaper round-up: Pace, Petrobas, IG Group
23rd Apr 2015 06:53
Set-top box maker Pace has agreed to a £1.4bn takeover by sector peer Arris, reports The Times. The company will hold its annual general meeting on Thursday, at which it will present the recommended deal to shareholders. Brazilian oil group Petrobas, under investigation for a corruption scandal, has
Read moreWednesday tips round-up: BHP Billiton, IG Group
18th Mar 2015 09:11
BHP Billiton's decision to de-merge some of its non-core activities into a new vehicle, South 32, opens up some intriguing possibilities, according to The Times' Tempus column. In essence, the Australian miner is hoping the new company will eventually become the target of a takeover. Unlike most min
Read moreTuesday broker round-up
17th Mar 2015 11:20
Aviva: Credit Suisse reiterates outperform and 610p target price. Legal&General: JP Morgan Cazenove ups target to 220p from 212p and reiterates underweight. Glencore: Investec reiterates buy and takes target to 328p from 306p. John Wood Group: Canaccord Genuity reiterates hold and lowers target to
Read moreIG Group reports £18.4m of client debt after January's SNB move
17th Mar 2015 08:03
London listed electronic trading firm IG Group on Tuesday revealed the full extent of the damage caused by the Swiss National Bank's move to scrap the franc's ceiling with the euro. In its third quarter trading update, IG, the country's biggest spread-trading and CFD broker by market share, reported
Read moreBroker tips: Dixons Carphone, JD Wetherspoon, IG Group
21st Jan 2015 11:52
Investec has lifted its target price for Dixons Carphone from 465p to 500p and retained its 'buy' recommendation for investors, saying that the update on Wednesday reflected a "Christmas cracker" for the electrical retailer. "Management has indicated expectations for [the year ending April 2015] to
Read moreUBS lowers IG Group to 'neutral', says risk-reward more balanced
21st Jan 2015 10:56
UBS said that the risk-reward balance when investing in IG Group is now more balanced due to its high valuation and limited operating leverage, as it cut its stance on the stock from 'buy' to 'neutral'. The shares are now trading at a 17% premium on a price-to-earnings ratio basis to the wider secto
Read moreLondon close: Chinese data offsets IMF downgrade
20th Jan 2015 17:23
Stocks ended the session with modest gains on the heels of better-than-expected growth figures in China. The FTSE 100 gained 34.57 points to finish the day at 6,629. China's gross domestic product expanded at a 7.4% clip in 2014, markets seemed to draw comfort from the fact that the rate of expansi
Read moreFTSE 250 movers: William Hill rises after beating forecasts, Afren damaged by T5 rebuttal
20th Jan 2015 13:58
Full year results from William Hill boosted share prices, as the bookmarker jumped ahead of forecasts despite falling at a fourth quarter hurdle, as football and horse racing results favoured punters. The group was forced to officially distribute the figures at 20:00 on Monday after they were accide
Read moreBroker tips: William Hill, Rio Tinto, IG Group
20th Jan 2015 13:19
Prospects for bookie William Hill are looking up thanks to the company's proprietary, differentiated products and technology, analysts said. On 19 January the bookmaker reported full-year results where operating profits on an EBITA basis were 2% ahead of the consensus forecast at £371m despite custo
Read moreIG Group exposed to risk of further central bank interventions, Canaccord says
20th Jan 2015 11:54
The Swiss central bank last week shocked markets by announcing its decision to remove its three-year old cap on further strengthening in the Swiss franc. The event on 15 January led stockbroker IG Group to incur in £30m of losses which when the company published its latest half-year results, on 20 J
Read more