IG Group Cuts Revenue Outlook
IG Group shares fell after the online trading firm lowered its annual revenue forecast due to low market volatility. The company expects weaker third-quarter revenue and reduced OTC revenue retention following subdued client trading activity.
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IG Group Holdings PLC shares fell 22.4% to 993 pence on Friday morning after the online trading firm cut its annual revenue forecast due to subdued market volatility.
The drop puts the United Kingdom firm on track for its steepest decline since December 2016. Peer Plus500 Ltd fell 5.3%, while CMC Markets PLC dropped 9.1%.
