Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Broker TP ICAP's third-quarter revenue jumps on energy market volatility

Stock Markets Nov 02, 2021 08:22
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A broker looks at a graph on his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson

(Reuters) - TP ICAP (LON:NXGN) Group, the world's largest inter-dealer broker, reported a 15% jump in third-quarter revenue on Tuesday, as volatile energy prices created increased trading opportunities in its commodities business.

Energy prices have been hitting record levels in recent months, as global economies open up after extended periods of COVID-related curbs, pushing up demand while supply chain issues persist.

"TP ICAP capitalised on improved operating conditions during the third quarter compared with the same period last year, due to increased volatility and higher secondary trading volumes," Chief Executive Officer Nicolas Breteau said, while reiterating the company's full-year revenue outlook.

In September, TP ICAP had reported a 35% plunge in half-year profit as trading across most asset classes tailed off from highs seen during the height of the COVID-19 pandemic, which saw decades-high levels of market volatility.

The London-listed firm, which brings together buyers and sellers in the financial, energy and commodity markets, said its revenue rose to 447 million pounds ($610.20 million) for the three months ended Sept. 30, compared with 388 million pounds a year earlier.

Revenue for its energy and commodities unit rose 16%, with growth across all asset classes, TP ICAP said.

Broker TP ICAP's third-quarter revenue jumps on energy market volatility
 

Related Articles

Stocks That Hit 52-Week Lows On Thursday
Stocks That Hit 52-Week Lows On Thursday By Benzinga - Aug 18, 2022

During Thursday's trading, 62 companies set new 52-week lows. Points of Interest From Today's 52-Week Lows: Sanofi (EPA:SASY) (NASDAQ:SNY) was the biggest company by market cap to...

Looking Into JE Cleantech Recent Short Interest
Looking Into JE Cleantech Recent Short Interest By Benzinga - Aug 18, 2022

JE Cleantech Hldgs's (NASDAQ:JCSE) short percent of float has risen 135.0% since its last report. The company recently reported that it has 63 thousand shares sold short, which is...

How Is The Market Feeling About Biomea Fusion?
How Is The Market Feeling About Biomea Fusion? By Benzinga - Aug 18, 2022

Biomea Fusion's (NASDAQ:BMEA) short percent of float has fallen 17.37% since its last report. The company recently reported that it has 451 thousand shares sold short, which is...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email