Icap sees 30% profits increase
Inter-dealer broker Icap has increased its interim pre-tax profits by 30% to £58.2 million, thanks to longer-term interest rate and credit volatility, the company reported.
“Market conditions across all regions for derivatives, bonds and money markets have been extremely active, as longer-term rates and credit have been volatile, even though official short-term rates have been stable,” said Michael Spencer, Icap’s chief executive.
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