FCA proposes stricter rules for CFDs and binary bets, IG and CMC plunge
6th Dec 2016 07:49
(ShareCast News) - The UK financial regulator is planning to clamp down on the sale by spread betting companies of contracts for difference (CFD) and binary bet products to less experienced traders, including limiting leverage and preventing companies from attracting customers with special bonus int
Read moreLCG proposes £10.7m placing to continue Sabet's laboured restructuring
21st Jun 2016 14:02
(ShareCast News) - London Capital Group has proposed a £10.7m equity fundraising, with chief executive Charles-Henri Sabet GLIO vehicle eyeing an 80% stake in the company to replace earlier loans to the spread betting provider. Sabet, the Swiss banker who first invested in LCG in 2014 and later that
Read moreLondon Capital Group says unaware of reason for share price jump
27th May 2016 12:15
(ShareCast News) - London Capital Group noted the jump in its share price on Friday, saying it was not aware of any reason for the movement. "As referred to in the company's results announced on 29 April 2015, the group will be seeking to increase its level of regulatory capital in the short term in
Read moreLondon Capital Group expects £13.9m full year loss
27th Jan 2016 08:33
(ShareCast News) - London Capital Group is expecting to post an adjusted loss before tax for the year to 31 December of £13.9m, down from a pre-tax profit in 2014 of £1.1m. That was before recognising a number of charges including an accelerated leasehold charge of £1.3m due to an office relocation,
Read moreSabet tries to bolster London Capital Group
25th Sep 2015 15:59
(ShareCast News) - After a poor set of first half results from London Capital Group Holdings on Thursday, Swiss-Lebanese entrepreneur and company chief executive Charles-Henri Sabet is doing his bit to bolster the company. The group has seen heavy investment in the eight months Sabet has been chief
Read moreLondon Capital Group currency losses "not more than £1.7m" after Swiss exchange rate cut
16th Jan 2015 15:39
London Capital Group Holdings on Friday released a statement saying the impact on its finance from the Swiss exchange rate cut would "not exceed £1.7 million". The company said the effect of the group's balance sheet from market and credit exposure will depend in its ability to recover client debts.
Read moreLondon Capital Group chairman buys 1.2% stake
27th Nov 2014 12:42
Charles-Henri Sabet, the executive chairman of London Capital Group (LCG), has shown his faith in the spread betting and CFDs company just two months after taking the role. Sabet, who took over from former boss Kevin Ashby in September and has since put in place a new management team, purchased 650,
Read moreLondon Capital Group losses widen after shake-up
22nd Oct 2014 11:16
Online trading and spread-betting firm London Capital Group (LCG) announced wider losses after taking a cost hit from a shake-up to revive its fortunes. LCG, which owns Capital Spreads, said pre-tax losses on continuing operations in the nine months to 30 September rose to £10.7m from £1.8m a year a
Read moreLondon Capital Group blames competition and low market volatility for H1 loss
17th Jul 2014 08:21
Spread-betting firm London Capital Group (LCG) announced lower half-year revenue, forecast a drop into the red and said it was launching a cost-cutting drive. LCG, which owns Capital Spreads, said first-half revenue from continuing operations dropped to £9.2m from £15.2m a year ago. It expects an
Read moreLondon Capital Group rebuffs Spreadex takeover bid
2nd Jul 2014 15:56
Spread-betting firm Spreadex is mulling its next steps after embattled rival London Capital Group rebuffed its £16.7m takeover bid. Spreadex said it was "considering its options" after LCG, which owns Capital Spreads, turned down its 30p per share offer. The suitor said no discussions were taking
Read moreLondon Capital Group "facing undisclosed takeover offers"
2nd Jul 2014 09:50
Embattled spread-betting firm London Capital Group has allegedly turned down a number of takeover bids that, according to media speculation, would benefit shareholders more than the financing it will put to them at an emergency meeting on Thursday. The spread-betting and CFD company recently propos
Read moreLondon Capital Group CEO resigns
18th Jul 2013 11:29
The Chief Executive of London Capital Group has resigned just six months into the job. The online spread betting company said Mark Slade, who only took the reins in February, was leaving for personal reasons. He has been replaced by Kevin Ashby who recently joined the company as Chief Commercial of
Read moreLondon Capital Group expects rise in half year profits
11th Jul 2013 14:43
Financial services and online spread betting company, London Capital Group, expects half-year profits to rise as a result of improved market conditions. The group anticipates adjusted pre-tax profits of £3.1m for the six months to end of June, compared to £2.1m for the same period last year and a l
Read moreMelrose director increases stake after positive update
9th May 2013 16:07
A round-up of the biggest director deals today so far Miles Templeman, Senior Non-Executive Director of Melrose Industries, the FTSE 100 industrial conglomerate, has added £152,400-worth of shares to his stake in the company one day after it reported revenue was one per cent ahead in the year-to-da
Read moreLondon Capital Group falls into the red, slashes dividend
20th Feb 2013 12:52
Shares in AIM-listed financial services company London Capital Group dropped after announcing that it fell into the red last year, for which reason it decided to slash its total dividend by two thirds. The company further reported that revenue decreased 27% to £28.6m. An adjusted loss before tax o
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