Spread bet firm’s Rock boost

Spread betting firm IG Index has emerged as one winner from the Northern Rock disaster.

Bosses say punters were placing up to 2,000 bets a day on what would happen to the share price.

Details emerged as IG revealed that half-year profits surged 63 per cent to £48.2million.

And here are the betting lines on MarketWatch from another spread betting company:

Spread-betting firm Cantor Index is offering odds of 5-to-1 on Virgin winning and 7-to-2 on Olivant. Nationalization of the bank, however, is the clear favorite with Cantor at odds of 1-to-8.

The rugby World Cup was good news for IG’s smaller sports betting business.

But the firm admits that England’s failure to qualify will ‘take some of the shine off’ Euro 2008.

Tags: IG Index, igindex, Northern Rock

This entry was posted on Wednesday, January 16th, 2008 at 1:36 am and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.