Britain's TP ICAP full-year revenue just beats forecast
(Refiles to correct spelling to "Tullett" from "Tullet" in 2nd paragraph)
March 14 (Reuters) - TP ICAP Plc's full-year revenue just beat analyst forecasts as U.S. stocks' record-setting rally and expectations of further U.S. rate hikes spurred trading volumes for the financial broker.
TP ICAP, which was formed after Tullett Prebon (Frankfurt: N5C.F - news) completed the purchase of ICAP (Frankfurt: A0BKYB - news) 's hybrid voice broking unit late last year, said on Tuesday it made revenue of 891.5 million pounds ($1.08 billion), just above analysts' average estimate of 887.9 million pounds, according to Thomson Reuters I/B/E/S.
TP ICAP said pro forma revenue for the first two months of the current year was 11 percent higher.
The world's largest voice broker said in January a rise in volatility and market activity after the U.S. presidential election and expectations for interest rate rises bumped up revenue across all product lines in the final quarter of 2016.
($1 = 0.8234 pounds) (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Mark Potter)