IG in the doldrums as the markets calm
Tuesday 11 December 2012
Becalmed stock markets are good news for investors but bad news for the UK's biggest spread-betting firm, which reported sliding revenues today.
IG Group, which has a 44 per cent share of the UK market, thrives on volatility and big market moves.
But trading, like stock markets, has been "subdued" in comparison with a year earlier, particularly the summer of 2011 when the eurozone crisis sent shares into meltdown.
Revenues fell 14 per cent to £169m in the six months to November 30, with the UK, accounting for half of the business, down 15 per cent. Fewer clients are trading and account openings were down 26 per cent on last year.
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