Icap sees rays of light as volumes rise
Thursday 02 February 2012
Shares in Icap, the broking giant founded and run by Michael Spencer, soared yesterday after it said everything in the City is not quite as gloomy as people feared.
It said January had seen a recovery in business from the low levels between October and December. However, it cautioned that electronic broking volumes were down 19 per cent on January 2011 because of low volatility in the yen and Swiss franc.
Mr Spencer (pictured) backed Chancellor George Osborne's bid to make London the centre for international trading of the Chinese renminbi. He is flying into Beijing today and said: "It is very, very high on our list of priorities."
Icap said profits for the year to March would now be at the top end of market forecasts, which range from £336m to £358m.
The shares rose 26p to 362p.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...