June 4, 2020 / 6:31 AM / 2 months ago

IG Group estimates FY net trading revenue of 649 million stg

LONDON (Reuters) - IG Group (IGG.L) is forecasting full year net trading revenue of around 649 million pounds, up from 476.9 million pounds last year as the new coronavirus pandemic continues to boost trading volumes.

In a trading update on Thursday, the company said financial market volatility had remained elevated and it has continued to see high levels of client activity.

Fourth quarter net trading revenue is now estimated to be around 259 million pounds compared with 117.9 million pounds last year, IG said.

The company said it will take a cautious approach in returning staff to its offices around the world, in keeping with guidance of local governments as lockdown measures aimed curbing the spread of COVID-19 begin to ease.

Reporting by Sinead Cruise, editing by Maiya Keidan

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