IG Group's interims impress after record second quarter
20th Jan 2015 08:38
Forex and spread-betting provider IG Group posted a strong set of interim results, though the surprise actions of the Swiss National Bank last week caused a wave of client currency losses that led to a £30m hit on the company and have put this year's final dividend at risk. The London-based group, w
Read moreTuesday 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 author
Read moreTraders warn of 'carnage' as Saxo Bank says it will amend Swiss franc trades
16th Jan 2015 13:00
Saxo Bank has said it could revisit the rates for transactions conducted after the Swiss National Bank's (SNB) decision to scrap its cap on the franc. The Danish lender, one of the biggest figures in retail foreign exchange trading, said it had filled client orders in an "extremely illiquid market"
Read moreBroker tips: ARM Holdings, Imperial Tobacco, IG Group
16th Jan 2015 11:46
Broker Liberum has reiterated its 'sell' call on chip designer ARM Holdings on the back of rising competition from US rival Intel. "Smartphones and tablets account for circa 75% of ARM's royalty revenue and has been the key driver of royalty growth," Liberum said. "If intel is successful [with produ
Read moreIG Group downgraded by Canaccord after Swiss exchange rate shock
16th Jan 2015 09:29
Canaccord Genuity has downgraded IG Group (IGG) from 'buy' to 'hold' after the spread betting and CFD provider admitted that the shock removal of a currency ceiling in Switzerland on Thursday cost it £30m. The Swiss National Bank (SNB) took global financial markets by surprise after scrapping its cu
Read moreIG says currency losses "not more than £30m" after Swiss franc unpegged
15th Jan 2015 15:41
Spread-betting and CFD provider IG Group rushed out a statement after Switzerland's surprise scrapping of its currency peg against the euro to say the huge swings in the value of the Swiss franc and other currencies to say the impact on its finances would "not exceed £30m". Shares in the company imm
Read moreIG Group on track for record Q2 as client activity picks up
25th Nov 2014 07:33
UK-based CFDs and spreadbetting firm IG Group has experienced a pick-up in activity in recent months and said it is on track to report record quarterly revenues. The company said in September that sales had declined by 9% in its first quarter due to "particularly quiet" financial markets with volume
Read moreBroker tips: Imagination Technologies, IG Group, ASOS
17th Sep 2014 13:13
A corner is being turned at Imagination Technologies after an in-line first quarter, according to Investec, though the broker kept a 'hold' recommendation on the stock ahead of an uncertain second half. "While there is a sense of a corner being turned after a torrid 18 months, we remain on 'hold' be
Read moreIG Group offers "good value" but Numis cuts estimates
17th Sep 2014 12:11
Numis Securities has kept an 'add' rating for spreadbetting group IG Group but has trimmed its forecasts after a poor first-quarter update from the firm. A particularly quiet summer in the financial markets and very low levels of volatility meant revenues at IG Group were down 9% year-on-year to £85
Read moreIG Group suffers from quiet summer markets
17th Sep 2014 08:17
A particularly quiet summer in the financial markets meant first-quarter revenues from spread-betting and CFD provider IG Group were short of analysts' expectations. Against an unusually strong period the summer before, revenue was down 9% year-on-year to £85.6m due to volumes and volatility falling
Read moreFTSE 250 movers: IG Group rises on increased divi payment
22nd Jul 2014 15:59
IG Group leapt following what broker Numis Securities termed a "substantial" increase in its dividend payment, up 28% to 22.4p. The financial spread betting firm reported a 2.4% rise in full-year trading revenue to £370.4m. Numis kept its 'add' rating on the stock with a target price of 665p. Secu
Read moreNumis hails "substantial" dividend hike at IG Group
22nd Jul 2014 12:46
IG Group offers "good value", according to Numis Securities, after the spreadbetting firm delivered a "substantial" increase in its dividend and lifted its payout ratio. The broker kept its 'add' rating on the stock with a target price of 665p. The company, which is about to launch a stock dealing
Read moreBroker tips: Tesco, Royal Mail, ARM Holdings, IG Group
22nd Jul 2014 12:42
New board members at Tesco should give "fresh perspectives" for the supermarket group, but the business will continue to face the the same structural problems, according to Deutsche Bank. The bank maintained a 'buy' recommendation for the stock but slashed its target price from 342p to 313p after c
Read moreLondon midday: UK stocks rise as risk appetite returns
22nd Jul 2014 12:12
- Mining stocks, ARM Holdings provide a lift - Royal Mail drops on disappointing parcel performance, Tesco pulls back - Gaza, Ukraine still in focus techMARK 2,816.77 +0.56% FTSE 100 6,782.04 +0.80% FTSE 250 15,592.23 +0.69% UK stocks rose strongly on Tuesday as a return of risk-on trading helped
Read moreMonday broker round-up UPDATE
16th Jun 2014 09:51
Allocate Software: N+1 Singer upgrades to buy with a target price of 133p. Croda International: Numis cuts target price from 2575p to 2554p and maintains its hold recommendation. Diamondcorp: Northland Capital shifts target price from 9.9p to 11p and keeps a buy recommendation. Fenner: Credit Su
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