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Pin to quick picksIg Group Holdings Share News (IGG)

Share Price Information for Ig Group Holdings (IGG)

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Share Price: 730.00
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UPDATE 2-Move over pandemic, GameStonk frenzy drives IG revenue

Thu, 11th Mar 2021 07:38

* IG third-quarter revenue surges 65%, shares up 4%

* Number of active clients up 60% to new record

* IG had 'unprecedented spike in new client demand'
(Adds share move, details on targets)

By Muvija M

March 11 (Reuters) - Online trading platform IG
reported a surge in third-quarter revenue on Thursday, thriving
on the retail frenzy in stock markets this year that propelled
shares in some beaten-down U.S. stocks higher.

IG, which gives retail investors leveraged access to more
than 17,000 financial markets through its platform and mobile
apps, said the number of active clients leapt 60% in the three
months to Feb. 28 from a year ago to a record 230,100.

"The group saw an unprecedented spike in new client demand,
largely in response to heightened news flow relating to certain
listed U.S. stocks," IG said in a statement on Thursday.

Shares climbed 4% to 8.4 pounds by 0835 GMT.

IG said it expected to hit its three-year revenue target of
160 million pounds ($223 million) from its "Significant
Opportunities" portfolio, which includes some U.S. and European
products, by the end of the 2021 fiscal year, a year ahead of
schedule.

Overall, IG's third-quarter revenue jumped 65% to 230.3
million pounds, even though last year's performance had already
been strong thanks to a pandemic-led selloff and a crash in oil
prices due to the price war between Saudi Arabia and Russia.

The company said it expected its deal announced in January
to buy U.S. trading platform tastytrade for $1 billion to close
in the first quarter of fiscal 2022.

While people have tried their luck in markets over the past
year under lockdowns, 2021 witnessed another dramatic surge in
retail trading as "mom-and-pop" investors joined together by
platforms such as Reddit took on deep-pocketed hedge funds.

They coordinated their buying in stocks that were heavily
shorted, fondly calling them "meme stocks", driving up prices
and leading to losses for bigger institutions that had bet the
shares would fall.

IG withdrew about 8% of the 12,000 leveraged equity products
it used to offer following the "GameStonk" frenzy, named after
U.S. video game retailer GameStop which is believed to
have been the starting point for the trend.
($1 = 0.7170 pounds)
(Reporting by Muvija M, Sagarika Jaisinghani and Indranil
Sarkar in Bengaluru; Editing by Uttaresh.V and David Clarke)

More News
14 Mar 2024 12:33

IG Group offers "deep value", says Shore Capital

(Sharecast News) - IG Group's share price advanced on Thursday as the market gave a positive reaction to the firm's third-quarter update and the departure of its chief financial officer and chief operating officer, with broker Shore Capital providing an extra lift by saying the stock offers "deep value".

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14 Mar 2024 10:45

IG Group CFO and COO step down; third quarter revenue rises

(Alliance News) - IG Group Holdings PLC on Thursday said that two executive directors will leave the company, as it reported a slight year-on-year uptick in third financial quarter revenue.

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14 Mar 2024 07:47

IG Group announces exit of CFO and COO

(Sharecast News) - Online trading platform IG Group has reported stable revenues in the third quarter as it announced the resignation of both its chief financial officer and chief operating officer, just two months after the appointment of a new chief executive.

Read more
7 Mar 2024 16:04

UK earnings, trading statements calendar - next 7 days

Friday 8 March 
Informa PLCFull Year Results
Just Group PLCFull Year Results
LMS Capital PLCFull Year Results
Stelrad Group PLCFull Year Results
Monday 11 March 
HgCapital Trust PLCFull Year Results
Mincon Group PLCFull Year Results
MTI Wireless Edge LtdFull Year Results
Tuesday 12 March 
BATM Advanced Communications LtdFull Year Results
Costain Group PLCFull Year Results
Domino's Pizza Group PLCFull Year Results
Fonix Mobile PLCHalf Year Results
Foresight Solar Fund LtdFull Year Results
Genuit PLCFull Year Results
H&T Group PLCFull Year Results
Hill & Smith PLCFull Year Results
MaxCyte IncFull Year Results
Persimmon PLCFull Year Results
Synthomer PLCFull Year Results
Target Healthcare REIT PLCHalf Year Results
TI Fluid Systems PLCFull Year Results
TP ICAP Group PLCFull Year Results
Wednesday 13 March 
4imprint Group PLCFull Year Results
Advanced Medical Solutions Group PLCFull Year Results
Balfour Beatty PLCFull Year Results
Centaur Media PLCFull Year Results
Faron Pharmaceuticals LtdFull Year Results
Ferrexpo PLCFull Year Results
Gym Group PLCFull Year Results
Hochschild Mining PLCFull Year Results
IP Group PLCFull Year Results
Keywords Studios PLCFull Year Results
Kin & Carta PLCHalf Year Results
Metro Bank Holdings PLCFull Year Results
Nexteq PLCFull Year Results
PensionBee Group PLCFull Year Results
Public Policy Holding Co IncFull Year Results
Seraphim Space Investment Trust PLCHalf Year Results
Supermarket Income REIT PLCHalf Year Results
Trainline PLCTrading Statement
Vaalco Energy IncFull Year Results
Thursday 14 March 
Alfa Financial Software Holdings PLCFull Year Results
Bridgepoint Group PLCFull Year Results
Capricorn Energy PLCFull Year Results
Deliveroo PLCFull Year Results
Empiric Student Property PLCFull Year Results
Gem Diamonds LtdFull Year Results
Halma PLCTrading Statement
Helios Towers PLCFull Year Results
IG Group Holdings PLCTrading Statement
Moonpig Group PLCTrading Statement
Morgan Advanced Materials PLCFull Year Results
Oakley Capital Investments LtdFull Year Results
OSB Group PLCFull Year Results
Restore PLCFull Year Results
Trainline PLCTrading Statement
Savills PLCFull Year Results
Vistry Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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23 Feb 2024 12:27

UK dividends calendar - next 7 days

Monday 26 February 
Dewhurst Group PLCdividend payment date
JPMorgan Mid Cap Investment Trust PLCdividend payment date
Tuesday 27 February 
JPMorgan UK Smaller Cos Investment Trust PLCdividend payment date
Wednesday 28 February 
Canadian General Investments Ltdex-dividend payment date
CQS New City High Yield Fund Ltddividend payment date
PetroTal Corpex-dividend payment date
Thursday 29 February 
abrdn Equity Income Trust PLCex-dividend payment date
Alliance Trust PLCex-dividend payment date
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Balanced Commercial Property Trust Ltddividend payment date
Bankers Investment Trust PLCdividend payment date
Barclays PLCex-dividend payment date
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City of London Investment Group PLCex-dividend payment date
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Gabelli Merger Plus+ Trust PLCex-dividend payment date
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Greencoat UK Wind PLCdividend payment date
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LondonMetric Property PLCex-dividend payment date
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Mobeus Income & Growth 2 VCT PLCex-dividend payment date
NB Private Equity Partners Ltddividend payment date
North Atlantic Smaller Cos Investment Trust PLCex-dividend payment date
Picton Property Income Ltddividend payment date
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Polar Capital Global Financials Trust PLCdividend payment date
Polar Capital Global Healthcare Trust PLCdividend payment date
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Riverstone Credit Opportunities Income PLCex-dividend payment date
Scottish American Investment Co PLCex-dividend payment date
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VH Global Sustainable Energy Opportunities PLCex-dividend payment date
VPC Specialty Lending Investments PLCex-dividend payment date
Warehouse REIT PLCex-dividend payment date
Wilmington PLCex-dividend payment date
Friday 1 March 
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Alternative Income REIT PLCdividend payment date
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CC Japan Income & Growth Trust PLCdividend payment date
CVC Income & Growth Ltd (EUR)dividend payment date
CVC Income & Growth Ltd (GBP)dividend payment date
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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9 Feb 2024 09:54

IN BRIEF: IG Group Chair Robert McTighe adds 3,400 shares to holding

IG Group Holdings PLC - London-based online trading provider - Chair Robert McTighe buys 10,000 shares at GBP6.79, worth GBP67,863, on Thursday. He sells 6,600 shares at GBP6.77, worth GBP44,754, also on Thursday. IG says the share sale and purchase are for tax planning purposes and result in a net increase of 3,400 shares held by McTighe.

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30 Jan 2024 09:32

LONDON BROKER RATINGS: BoA cuts Barratt, Persimmon; ups Taylor Wimpey

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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26 Jan 2024 09:07

LONDON BROKER RATINGS: Morgan Stanley ups Rightmove; Deutsche cuts IHG

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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25 Jan 2024 17:23

British equities end mixed over corporate updates

IG Group, St. James's Place slide after earnings updates

*

Read more
25 Jan 2024 15:13

London close: Stocks turn green after US GDP release

(Sharecast News) - Stocks in London had turned higher by the close on Thursday, as investors digested a better-than-expected GDP reading out of the United States.

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25 Jan 2024 09:14

TOP NEWS: IG Group shares slump as tepid markets hit revenue

(Alliance News) - IG Group Holdings PLC on Thursday reported a decline in first-half earnings, and it cautioned that unfavourable market conditions have continued in its third quarter.

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25 Jan 2024 07:48

IG Group interim revenues fall amid softer market conditions

(Sharecast News) - Online trading platform IG Group reported a drop in interim revenues and profits on Thursday, citing "softer market conditions" and a strong comparative period.

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22 Jan 2024 09:10

LONDON BROKER RATINGS: Citi says 'buy' Segro; Barclays cuts Sage

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Tuesday:

Read more
18 Jan 2024 16:28

UK earnings, trading statements calendar - next 7 days

Friday 19 January 
4imprint Group PLCTrading Statement
Close Brothers Group PLCTrading Statement
Deliveroo PLCTrading Statement
DFS Furniture PLCTrading Statement
Petershill Partners PLCTrading Statement
S4 Capital PLCTrading Statement
Spirent Communications PLCTrading Statement
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Baillie Gifford US Growth Trust PLCHalf Year Results
City of London Investment Group PLCTrading Statement
Edinburgh Worldwide Investment Trust PLCFull Year Results
Polar Capital Global Financials Trust PLCFull Year Results
Tuesday 23 January 
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Associated British Foods PLCTrading Statement
CC Japan Income & Growth Trust PLCFull Year Results
Crest Nicholson Holdings PLCFull Year Results
FireAngel Safety Technology Group PLCTrading Statement
Henry Boot PLCTrading Statement
Ilika PLCHalf Year Results
Marston's PLCTrading Statement
Premier Foods PLCTrading Statement
Staffline Group PLCTrading Statement
Velocity Composites PLCFull Year Results
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Computacenter PLCTrading Statement
Fresnillo PLCTrading Statement
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Hochschild Mining PLCTrading Statement
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Lords Group Trading PLCFull Year Results
PayPoint PLCTrading Statement
PensionBee Group PLCTrading Statement
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CVS Group PLCTrading Statement
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Foxtons Group PLCFull Year Results
Fuller, Smith & Turner PLCTrading Statement
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IG Group Holdings PLCHalf Year Results
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
15 Jan 2024 09:44

IN BRIEF: Record names Heading as new CFO as Cullen to retire

Record PLC - Windsor, England-based currency and derivatives manager - Chief Financial Officer Steve Cullen announces intention to retire in summer this year. He will remain available on an advisory basis, to support the handover and transition of his responsibilities. Record simultaneously announces hiring of Richard Heading as new CFO, and says it will confirm the exact date of his appointment in due course. Heading was most recently group finance director of IG Group Holdings PLC, having previously served as its business finance director from September 2018 to March 2021. News follows announcement in November that Chief Executive Officer Leslie Hill will also retire on March 31, with Record formerly installing Jan Witte as her replacement on April 1. CFO Cullen has spent 20 years at Record and was promoted to CFO in 2013.

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