TCP Icap shares jump as US election result causes trading frenzy

 
Emma Haslett
Follow Emma
Republican Presidential Nominee Donald Trump Holds Election Night Event In New York City
The results of the US election pushed up expectations of volatility, TCP Icap said (Source: Getty)

Shares in broking giant TCP Icap, formerly known as Tullet Prebon, jumped this morning after it unveiled a bumper year as investors worked themselves up into a frenzy of activity after the US election result.

Shares jumped as much as 10 per cent to 484p this morning, after the company said it expected revenue to jump 12 per cent in 2016, from the £796m it reported in 2015.

In a trading update this morning, the company said the aftermath of the US presidential election helped push up revenues in all its product lines, but in particular its interest rate derivatives, fixed income and treasury products.

"The expectation of future interest rate rises have seen an increase in volatility and market activity, which has particularly benefited these products," it said.

At the very end of last year TCP Icap snuck in one final deal - the buyout of the voice-broking arm of Nex, the new name given to Icap, which TCP has also absorbed.

Today it said the acquisition had "swiftly moved to the implementation phase", and added it will provide more guidance on the combined business at its preliminary results in March.

Related articles