IG Group trading revenue set to rise
Net trading revenue is expected to be around 259 million pounds
Stocks impacted: IG Group Holdings PLC (IGG)
The online trader said that trading in the fourth quarter of fiscal 2020 was better than expected while net trading revenue is expected to be significantly higher than previously estimated. In particular, net trading revenue for the three months ended May 31 is expected to be around 259 million pounds compared with an estimate of 173 million pounds as at April 24. At that, net trading revenue in IG’s core markets was 6% lower in H1 FY20 than the same period in the prior year. The company noted that financial market volatility has remained elevated since its update in April, and high levels of client trading activity continue to persist. The company’s full-year results are due on 23 July.
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