Archive for January, 2006

Mulcahy invests in Delta Index

January 31, 2006guidfarr No Comments »

Tweet Former AIB chief executive Tom Mulcahy has taken a stake in Irish-owned financial spread betting firm Delta Index. He has taken part in a €1m round of fund-raising which also involved Delta Index managing director Dermot O’Donoghue. Delta has now raised €2.3m since it was founded in 2002. Earlier investors included Dolmen Securities, parent […]

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IG Group first-half profit leaps

January 24, 2006guidfarr No Comments »

Tweet Spread betting firm IG Group PLC said current trading remained strong and it is confident about prospects as it posted a 34 pct rise in first half pretax earnings before interest, depreciation and amortisation to 21.4 mln stg. IG said its UK spread betting operation grew revenues by 32 pct in the six months […]

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Volatile market is a sure bet for IG Group as profits treble

January 24, 2006guidfarr No Comments »

Tweet Stockmarket volatility helped spread-betting firm IG Group treble its first-half profit, its latest update revealed. And the firm is looking to this summer’s World Cup in Germany as a platform to take its sports gambling operation into the betting mainstream. IG said punters betting on equity indices rose to record levels after October proved […]

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No excess please, we’re skittish

January 23, 2006guidfarr No Comments »

Tweet Volatility, in the form of fast price movements offering potential for quick profits, is what spread-betting companies say their clients prefer. Personally, I hate it. Slow but reliable trends in share prices and markets are my thing. If a profit has to be ground out steadily over months, great, that’s easy on the nerves, […]

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City’s richest man lines up £800m flotation

January 22, 2006guidfarr No Comments »

Tweet Peter Cruddas, the City’s richest man, whose personal fortune is estimated at £750m, is preparing to float CMC, the London financial group that specialises in internet spread-betting, writes Peter Koenig. The company believes the sale, to take place by June, will value CMC at between £725m and £800m, based on 20 times average pre-tax […]

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It can pay to join the opposition

January 15, 2006guidfarr No Comments »

Tweet Towards the end of July 2002, a weekly survey of US analysts by spread betting company IG Index found that they were at their most bearish for at least 10 years. Predictions of doom abounded and the Dow Jones Industrial Average was trading at fresh five-year lows. The same week saw the start of […]

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A week’s a long time in spreads

January 12, 2006guidfarr No Comments »

Tweet All of a sudden politics has become interesting again. As if the election of the youthful David Cameron as Tory leader were not enough, Charles Kennedy has admitted to a drink problem and called a Liberal Democrat leadership contest. On the same day Tony Blair said he planned to be Prime Minister for a […]

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Irish Regulatory Changes – Spread Betting

January 9, 2006guidfarr No Comments »

Tweet Financial Regulator to cover spread betting – The Irish Times says the Financial Regulator will take responsibility for regulating spread betting next year under the terms of a new EU directive. The Market in Financial Investments Directive will hand the responsibility for supervising spread betting to the domestic regulators in EU member states when […]

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A week’s a long time in spreads, James Moore, Business Times

January 7, 2006guidfarr No Comments »

Tweet All of a sudden politics has become interesting again. As if the election of the youthful David Cameron as Tory leader were not enough, Charles Kennedy has admitted to a drink problem and called a Liberal Democrat leadership contest. On the same day Tony Blair said he planned to be Prime Minister for a […]

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