IG Group says revenues slightly ahead so far in second quarter

City A.M. Reporter
FINANCIAL spread betting firm IG Group said yesterday its revenue was slightly ahead of a year ago so far in the second quarter.

The company, which allows investors to speculate on the future price of securities or baskets of securities, said in a trading update that the business had traded satisfactorily through the period, but markets had been more subdued than during the first quarter.

Shares in the FTSE 250 company which have risen almost 35 per cent this year, fell 2.4 per cent.

The company will report its first half results on 14 January.

Analysts at Canaccord Genuity said they were “stunned by the statement’s brevity,” as “traditionally IG provides its shareholders a clear trading statement shortly after each quarter end”. But they added they would make no changes to their forecasts due to the lack of new information.