Archive for the ‘Uncategorized’ Category

Shortest ever pre-budget report

December 11, 2006guidfarr No Comments »

Spread-betting firms which took wagers on the length of Gordon Brown’s speech today are licking their wounds after it turned out to be his shortest ever pre-budget report.

Read More »

FSA to pay costs in Cyprotex case

October 11, 2006guidfarr No Comments »

Tweet The Financial Services Authority (FSA) will have to pay the full legal costs for two people it tried to fine for betting on a stock market flotation. In May, Paul Davidson and Ashley Tatham won an appeal at the Financial Services and Markets Tribunal. It overturned an earlier finding of the FSA that the […]

Read More »

Global Trader could be up for sale following approaches

October 10, 2006guidfarr No Comments »

Tweet Global Trader, the UK-listed online spread betting company, may be put up for sale after receiving several approaches from potential buyers. The company has hired independent investment bank Fenchurch Advisory Partners, who are expected to distribute an information memorandum within the next few days. Global Trader offers spread trading and contracts for difference services […]

Read More »

IG Group says it continues to perform strongly

October 3, 2006guidfarr No Comments »

Tweet LONDON (AFX) – IG Group Holdings PLC, owner of financial spread betting website IG Index said that both its financial and sports businesses have continued to perform strongly in the first four months of the financial year. ‘Both our financial and sports businesses have enjoyed revenues and levels of account opening substantially higher than […]

Read More »

London Capital H1 profit up sharply

September 22, 2006guidfarr No Comments »

Tweet LONDON (AFX) – Spread-betting firm London Capital Group which operates Capital Spreads said its first-half profit rose almost five fold, buoyed by strong growth in customer numbers. The company, which offers online financial spread betting and foreign exchange trading services, said pretax profit for the six months to June 30 came in at 1.65 […]

Read More »

Delta Index in €2m cash call for Europe expansion

September 5, 2006guidfarr No Comments »

Tweet DELTA INDEX, the financial spread-betting company backed by former AIB chief executive Tom Mulcahy, is seeking to tap investors for up to €2m in a fundraising that values the four-year-old company at more than €10m. Mulcahy spent €500,000 earlier this year on a 7% stake in the company when it was valued at €6m. […]

Read More »

TD Waterhouse launches financial spread betting

September 3, 2006guidfarr No Comments »

Tweet Execution-only broker TD Waterhouse has unveiled its new online Financial Spread Betting service. “Financial spread betting is a highly adaptable trading tool enabling investors to gain access to a wide range of markets in an easy and cost-effective manner,” said TD Waterhouse UK chief executive Michael Foulkes. “Our customers will be able to gain […]

Read More »

Spreadbetter IFX backs 58 mln stg takeover plan

September 1, 2006guidfarr No Comments »

Tweet Currency trader and spread-betting company IFX Group Plc said it would back a 58 million pound takeover plan by rival City Index, which made an initial approach in March. City Index has offered 180 pence in cash per share, or around 57.9 million pounds. “The IFX directors have considered the implications for all stakeholders […]

Read More »

City Index snaps up IFX

August 4, 2006guidfarr No Comments »

Tweet Spread betting company City Index has agreed to snap up financial trading platform operator IFX Group. City Index and IFX announced today that they have agreed a recommended cash offer priced at 180p per share, valuing IFX at £57.9m. The offer comes at a 15% premium to IFX’s share price on 25 April, when […]

Read More »

IG Group’s year earnings jump

August 1, 2006guidfarr No Comments »

Tweet IG Group – Britain’s biggest spread-betting company, posted a 51 percent rise in core profit to 52.6 million pounds on Monday and said a return of cash to shareholders was becoming more likely. The company, which allows investors to speculate on currencies, interest rates, shares and indices, had said in an earlier trading update […]

Read More »

RBS set to make fortunes for shareholders … and punters

July 31, 2006guidfarr No Comments »

Tweet Financial bookies are braced for a massive pay out if Sir Fred Goodwin beats stock market expectations when he delivers his half-yearly trading update on Friday. Spread betting firm Cantor Index says it has experienced a late rush from gamblers who have bet heavily that the shares are poised for a rise to well […]

Read More »

IG Group beats FY forecasts as spread betting bonanza continues

July 24, 2006guidfarr No Comments »

Tweet Spread betting firm IG Group Holdings PLC reported better than expected full-year profits, buoyed by the growing popularity of spread bets on financial markets. IG said earnings before interest, taxes, depreciation and amortisation (EBIDTA), its preferred measure of profit, came in at 52.6 mln stg in the year to May 31, a 51 pct […]

Read More »

IG Index Update

July 22, 2006guidfarr No Comments »

Tweet Trading at IG Group Holdings PLC has been strong throughout the year. Revenues, numbers of clients trading and numbers of transactions have all shown substantial progressive increases. In May, the board forecast full-year revenue of 85 mln stg-plus, up from 62 mln in 2005, and EBITDA in excess of 50 mln stg against 35 […]

Read More »

Paul ‘The Plumber’ Davidson May Sue FSA for Costs (Update1)

July 18, 2006guidfarr No Comments »

Tweet Paul “the Plumber” Davidson, the British businessman cleared of market abuse in May, said he plans to use an electric device called a “Noisy Charger” to shock the Financial Services Authority into paying his legal bills. If the FSA refuses to pay his costs from a three-year challenge to a record 750,000-pound ($1.4 million) […]

Read More »

New additions at spread-betting group

June 27, 2006guidfarr No Comments »

Tweet Spread-betting group Sporting Index has announced the arrival of two new individuals to its board, it has emerged. The firm, which also provides punters with casino and poker games, has made these appointments as it prepares to expand to an overseas market, the Sunday Times reports. As a result of the reshuffle, former non-executive […]

Read More »