|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||100.40 - 102.20|
|52-week range||74.30 - 167.60|
|Beta (3Y monthly)||-0.68|
|PE ratio (TTM)||51.00|
|Forward dividend & yield||0.02 (2.02%)|
|1y target est||N/A|
British online trading firm CMC Markets Plc said on Thursday it expects its full-year results will top analysts' forecasts as it bounces back after being hit by regulatory changes in the industry. Shares in CMC briefly jumped more than 7% after the company said its net operating income and pretax profit for the year ending next March would slightly exceed analysts' highest estimates. CMC and rivals Plus500 Ltd and IG Group lost clients after regulators in Europe and Britain tightened online trading rules last year, but their recent trading updates have signalled the situation has stabilised.
Shares in CMC briefly jumped more than 7% after the company said its net operating income and pretax profit for the year ending next March would slightly exceed analysts' highest estimates. CMC and rivals Plus500 Ltd and IG Group lost clients after regulators in Europe and Britain tightened online trading rules last year, but their recent trading updates have signalled the situation has stabilised. Australia is now set to follow, and has proposed a ban on the sale of binary options to retail clients, and restrictions on the sale of Contracts for Differences (CFDs) among other products, CMC said in its results statement.
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"Client trading activity in our CFD (contract for difference) and spreadbet business has now stabilised as clients adapt to the new regulatory changes," Chief Executive Officer Peter Cruddas said on Thursday. The company and its rivals, Plus500 Ltd and IG Group , have had to weather a drop in client numbers over the past year as regulators in Europe and Britain tightened the rules on products that allowed anyone with a bank card to make highly-leveraged bets on financial markets. In June, Cruddas, who had set up CMC Markets as a foreign exchange broker with a 10,000 pound investment in 1989, said the worst of the regulatory clampdown on the sector was over.
(Bloomberg) -- The U.K.’s financial services regulator is proposing a ban on retail sales of derivatives tied to some crypto assets, as it seeks to clamp down on risky financial products.The Financial Conduct Authority said cryptocurrencies have no reliable basis for valuation, while market abuse and financial crime are prevalent in the secondary market for digital assets. The watchdog estimates that a ban on retail trading could prevent between 75 million pounds ($94 million) and 234.3 million pounds in losses a year, according to a statement on Wednesday.Retail investors in the U.K. are able to speculate on cryptocurrencies through complex derivatives known as contracts for difference, or CFDs. Largely banned in the U.S. and under increasing scrutiny in Europe, these instruments allow amateur traders to make risky bets on assets without owning them.“Most consumers cannot reliably value derivatives based on unregulated crypto assets,” said Christopher Woolard, Executive Director of Strategy & Competition at the FCA. “Prices are extremely volatile and as we have seen globally, financial crime in crypto-asset markets can lead to sudden and unexpected losses.”Scams involving cryptocurrencies and foreign exchange boomed last year, losing British investors more than 27 million pounds, according to the FCA, which told consumers in May to watch out for online trading platforms offering get-rich-quick schemes.Companies that currently offer CFDs tied to cryptocurrencies include CMC Markets Plc, Plus500 Ltd. and IG Group Holdings Plc, according to their websites. The shares of all three companies briefly declined on the news.“This is further mood music that the regulatory environment for these kinds of business continues to be tough,” said Portia Patel, analyst at Canaccord Genuity. “Expect retail CFD companies to lobby hard against this.”(Updates with CFD providers’ share price moves in fifth paragraph.)\--With assistance from Viren Vaghela.To contact the reporters on this story: Alastair Marsh in London at firstname.lastname@example.org;Donal Griffin in London at email@example.comTo contact the editors responsible for this story: Ambereen Choudhury at firstname.lastname@example.org, Marion Dakers, Keith CampbellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on CMC...
Boris Johnson has been handed £50,000 by Peter Cruddas, one of the City's leading figures, as he seeks to blow rivals away financially and rebuild his standing among employers in the race for the Conservative Party leadership. Sky News has learnt that Mr Cruddas, the founder and chief executive of financial spread-betting firm CMC Markets, wrote the five-figure cheque to Mr Johnson's campaign earlier this week. The donation swells Mr Johnson's coffers days after he held a private breakfast with wealthy potential backers at a private members' club in London's Mayfair.
The main index, whose companies earn more than two-thirds of their profit from abroad, ended 0.1% higher, while the more domestically-focused FTSE 250 slipped 0.7%. A slump in sterling lifted internationally-exposed companies GlaxoSmithKline, Unilever and AstraZeneca, the biggest boosts to the FTSE 100. Stocks most sensitive to the any increased risk of a hard Brexit stumbled after multiple media reported rumours May's ministers could oust her in a row over her latest deal to exit the European Union.
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Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! In 2013 Peter Cruddas was appointed CEO of CMC Markets Plc (LON:CMCX). This analysis aims...
The FTSE 100 was up 0.3 percent and the FTSE 250 rose 0.5 percent to cling to a six-month high hit in the previous session to cap off a third straight week of gains. Plus500 slumped more than 31 percent on its worst day in almost four years after its quarterly revenue plummeted to below a fifth of a year earlier. It took a hit from less market volatility creating fewer trading opportunities and new rules affecting retail clients.
New rules reducing leverage and protecting amateur retail investors from heavy losses have been in place for a year but are only beginning to show up more dramatically in results of Plus500 and peers like IG and CMC Markets. A cryptocurrency boom that was in full swing at the start of 2018 has also collapsed, with bitcoin trading at around $5,000 from highs near $20,000, adding to the platforms' problems. Plus500's revenue sank to $53.9 million in the first quarter from $297.3 million a year ago, sending shares down 43 percent to a two-year low of 399.7 pence and dragging IG and CMC around 5 percent lower.
Oil stocks led Britain's FTSE 100 higher on Friday, but trading was muted as the U.S. corporate earnings season began. A plunge in revenue took down mid-cap online trading platform Plus500 and its peers. ...
* European stocks slip at end of hesitant week * Plus500 plunges 29 pct after revenue slump * Peers IG Group, CMC Markets down 3.7 to 4.3 pct * Pets at Home down 13.6 pct after share placement * Rubis ...
European shares ticked lower on Friday, dragged down by banks, while lingering worries over global growth kept investors on edge before the crucial earnings season in the United States. The pan-European STOXX 600 index was down 0.2 percent at 0718 GMT, on track to end the week lower after two weeks of gains. Concern about sluggish global growth were reinforced this week by central banks in the euro zone and United States, which maintained their dovish stances and separately warned of risks to the world economy.