Punters are now more willing to trade the markets as economic confidence revives, the UK’s biggest spread-betting firm IG Group said today.
Despite a lack of volatility in financial markets, which spread-betters thrive on, revenues at IG, which sponsors Harlequins rugby club were up 8% to £182.7 million in the six months to November 30.
The favourite trades remain the Dow Jones Industrial Average, the FTSE 100 and euro-dollar currency trades, according to chief executive Tim Howkins. “Client sentiment is much better than it was 12 to 18 months ago. They’ve been more active, coming back to life after a long economic malaise.”
IG, which has around 30,000 customers in the UK, is also benefiting from efforts to shed its low-spending punters. In the UK, the number of active clients fell 9% over the half but average revenue per client jumped 18% to around £1500.
Pre-tax profits were up 17% to £91.5 million.
