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United Kingdom

TP ICAP PLC (TCAPI.L)

TCAPI.L on London Stock Exchange

289.10GBp
16 Aug 2019
Change (% chg)

10.20 (+3.66%)
Prev Close
278.90
Open
279.20
Day's High
289.10
Day's Low
279.20
Volume
1,149,189
Avg. Vol
979,616
52-wk High
327.40
52-wk Low
265.40

Latest Key Developments (Source: Significant Developments)

TP ICAP Profit Falls With Investment Banks Trading Less As Brexit, Trade Wars Take Toll
Tuesday, 6 Aug 2019 

Aug 6 (Reuters) - TP ICAP PLC ::FINANCIAL AND INTERIM MANAGEMENT REPORT.UNDERLYING H1 REVENUE OF £922M (H1 2018: £910M).UNDERLYING H1 PROFIT BEFORE TAX £134M (H1 2018: £139M).REPORTED H1 PROFIT BEFORE TAX £83M (H1 2018: £34M).TP ICAP- GLOBAL BROKING REVENUE FELL 6% AT CONSTANT EXCHANGE RATES, AGAINST A BACKDROP OF DOUBLE DIGIT REVENUE DECLINES BY LARGEST CUSTOMERS IN H1.A 5.6P PER SHARE INTERIM DIVIDEND (2018: 5.6P) WILL BE PAID.SEEN DECLINE IN TRADING AMONGST INVESTMENT BANKS, AND ADDITIONAL COSTS DRIVEN BY INCREASING REGULATION AND BREXIT.IN FOREIGN EXCHANGE, RECENT LAUNCH OF OUR ASIAN NDF PLATFORM PROVIDES GLOBAL LIQUIDITY TO CLIENTS FROM BOTH OUR BRANDS.ANNOUNCED A JOINT VENTURE IN CHINA WITH ENMORE INVESTMENT GROUP, CALLED ENMORE COMMODITY BROKERS (SHANGHAI) CO. LTD.TP ICAP - CONTINUE TO RATIONALISE OUR REAL ESTATE FOOTPRINT. SINCE MARCH, WE HAVE CONSOLIDATED OUR OFFICES IN HONG KONG, JAKARTA AND AMSTERDAM.LONDON-BASED GLOBAL BROKING AND SUPPORT FUNCTIONS STAFF WILL MOVE INTO A SINGLE LOCATION NEXT YEAR.TP ICAP - MOVE OF SUPPORT FUNCTIONS TO NEW SHARED SERVICE CENTRE IN BELFAST CONTINUES, EXPECT TO HAVE AROUND 300 EMPLOYEES THERE BY EARLY 2020.TP ICAP - UNCERTAINTY CREATED BY BREXIT, SOFTENING OF US FEDERAL RESERVE'S STANCE ON INTEREST RATES HAVE IMPACTED MARKET VOLATILITY AND VOLUMES.TP ICAP - UNCERTAINTY CREATED BY POTENTIAL FOR FURTHER QUANTITATIVE EASING IN EUROZONE, HAS IMPACTED MARKET VOLATILITY AND VOLUMES.  Full Article

TP ICAP FY Statutory Pretax Profit 62 Mln stg vs 72 Mln stg
Tuesday, 19 Mar 2019 

March 19 (Reuters) - TP ICAP PLC ::TP ICAP PLC - FINAL RESULTS.TP ICAP PLC - FY STATUTORY PROFIT BEFORE TAX £62M (2017: £72M).TP ICAP PLC - FY UNDERLYING REVENUE OF £1,763M (2017: £1,757M).TP ICAP PLC - FY UNDERLYING PROFIT BEFORE TAX £245M (2017: £233M).TP ICAP PLC - BOARD RECOMMENDING A FINAL DIVIDEND OF 11.25 PENCE PER SHARE TO BE PAID ON 21 MAY 2019 (WITH A RECORD DATE OF 5 APRIL 2019).TP ICAP PLC - ACHIEVED RUN RATE SAVINGS OF £71M IN 2018 AND EXPECT TO DELIVER REMAINING £4M IN 2019.TP ICAP PLC - BY THEN END OF 2018 CO HAD SPENT £130M ON INTEGRATION PROCESS AND WE ANTICIPATE A TOTAL COST OF INTEGRATION OF £160M.TP ICAP PLC - WE HAVE PUT IN PLACE CONTINGENCY PLANS FOR A NO DEAL BREXIT.TP ICAP PLC - WORKING HARD TO MINIMISE IMPACT BUT IT IS DIFFICULT TO GAUGE SCALE OF ANY IMPACT AT THIS STAGE FROM NO DEAL BREXIT.TP ICAP - MARKET SAW HIGH VOLATILITY CAUSED BY US/CHINA TRADE WAR, IRANIAN SANCTIONS, US MID-TERM ELECTIONS, MANY OF CO'S CLIENTS HAD DIFFICULT YEAR.  Full Article

TP ICAP Comments On Moody's Press Release
Tuesday, 29 Jan 2019 

Jan 29 (Reuters) - TP ICAP PLC ::STATEMENT RE PRESS RELEASE.NOTES PRESS RELEASE DATED JAN 28 ISSUED BY MOODY'S INVESTOR SERVICE.COMPANY HAS NOT HAD ANY ENGAGEMENT WITH MOODY'S WITH REGARDS TO CREDIT RATING REFERENCED IN RELEASE.COMPANY DISAGREES WITH MOODY'S ASSUMPTIONS CONTAINED IN RELEASE IN RELATION TO LEVERAGE AND INTEREST EXPENSE.TP ICAP - CO "DOES NOT BELIEVE THAT RELEASE AFFECTS ITS CREDIT WORTHINESS WITH ITS CLIENTS AND COUNTERPARTIES".DOES NOT BELIEVE THAT MOODY'S RELEASE HAS A NEGATIVE IMPACT ON COMPANY'S DEBT OBLIGATIONS.  Full Article

Tp Icap Names Richard Berliand As Chairman Designate
Friday, 14 Dec 2018 

Dec 14 (Reuters) - TP ICAP PLC ::TP ICAP PLC - TP ICAP PLC APPOINTMENT OF CHAIRMAN DESIGNATE AND NON-EXECUTIVE DIRECTOR CHANGES.TP ICAP PLC - DIRECTORATE CHANGE.TP ICAP PLC - RICHARD BERLIAND WILL JOIN BOARD AS A NON-EXECUTIVE DIRECTOR AND CHAIRMAN DESIGNATE.  Full Article

TP ICAP Buys Axiom For Initial Consideration Of $15.1 Mln
Friday, 2 Nov 2018 

Nov 2 (Reuters) - TP ICAP PLC ::ACQUISITION.PROPOSED DEAL FOR INITIAL CONSIDERATION FOR ACQUISITION IS $15.1M IN CASH.TP ICAP PLC ANNOUNCES ACQUISITION OF AXIOM.DEFERRED NON-CONTINGENT PAYMENT OF $3.1M WILL BE PAID OVER 3 YEARS AND FURTHER $10.9M OF DEFERRED CONTINGENT CONSIDERATION MAY BE PAYABLE.FOR YEAR ENDED 31 DECEMBER 2017, AXIOM MADE PROFIT BEFORE TAX OF US$5.3M.  Full Article

TP ICAP Sees FY Results In Line With Guidance
Friday, 2 Nov 2018 

Nov 2 (Reuters) - TP ICAP PLC ::EXPECT OUTCOME FOR FULL YEAR TO BE IN LINE WITH GUIDANCE.REVENUE IN FOUR MONTHS TO OCTOBER 2018 OF £568M WAS 1% HIGHER THAN £562M REVENUE FOR SAME PERIOD LAST YEAR.GLOBAL BROKING REVENUE FOR FOUR MONTHS WAS IN LINE WITH PRIOR YEAR AND 3% HIGHER YEAR TO DATE ON A CONSTANT CURRENCY BASIS.IN FOUR MONTHS TO OCTOBER REVENUE GROWTH REFLECTS MIXED MARKET CONDITIONS DURING PERIOD.WELL PLACED TO GROW IN MIXED MARKET CONDITIONS CHARACTERISED BY PERIODIC VOLATILITY SEEN IN OCT AFTER US FEDERAL RESERVE'S RATES DECISION.  Full Article

TP Icap Appoints Philip Price Executive Director With Immediate Effect
Monday, 3 Sep 2018 

Sept 3 (Reuters) - TP ICAP PLC ::TP ICAP PLC - APPOINTMENT OF PHILIP PRICE AS AN EXECUTIVE DIRECTOR, WITH IMMEDIATE EFFECT.  Full Article

TP ICAP Picks Paris For European Union Hub
Tuesday, 7 Aug 2018 

Aug 7 (Reuters) - TP ICAP PLC ::FINANCIAL AND INTERIM MANAGEMENT REPORT.H1 PROFIT BEFORE TAX £34M (2017: £71M).HY UNDERLYING REVENUE OF £910M (2017: £925M).HY UNDERLYING PROFIT BEFORE TAX £139M (2017: £129M).£13M OF SYNERGY SAVINGS ACHIEVED IN H1 TAKING CUMULATIVE RUN RATE TO £65M.HY UNDERLYING OPERATING PROFIT £155M (2017: £144M).CONDITIONS IN OUR UNDERLYING GLOBAL BROKING BUSINESS REMAIN SUPPORTIVE FOR CONTINUED GROWTH.MARKET CONDITIONS AND NORMALISATION OF INTEREST RATES ARE IMPROVING SLOWLY.5.6P PER SHARE INTERIM DIVIDEND WILL BE PAID ON 9 NOVEMBER 2018.TP ICAP - CONDITIONS WITHIN OUR ENERGY & COMMODITIES DIVISION REMAIN CHALLENGING BUT FUNDAMENTALS OF OUR BUSINESS AND COMPETITIVE POSITION ARE STRONG.CONTINUE TO SEE A NUMBER OF EXCITING OPPORTUNITIES IN DATA & ANALYTICS BUSINESS.EXPECTS 2018 YEAR END RESULT TO BE IN LINE WITH CURRENT MARKET EXPECTATIONS.IS IMPLEMENTING ITS PLANS TO PREPARE FOR UK'S DEPARTURE FROM EU IN MARCH 2019.HAS CHOSEN PARIS TO BE ITS EU HEADQUARTERS FROM WHERE ITS EUROPEAN BASED BUSINESS WILL BE MANAGED AND RUN AFTER 29 MARCH 2019.CURRENTLY EXPECTS THAT ISWAP WILL CHOOSE AMSTERDAM AS LOCATION OF ITS BUSINESS AFTER 29 MARCH 2019.  Full Article

Schroders Raises Stake In TP ICAP To 14.9 Pct From 9.9 Pct - Filing
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - TP ICAP PLC::SCHRODERS PLC RAISES STAKE IN TP ICAP PLC TO 14.9 PERCENT FROM 9.9 PERCENT - FILING.  Full Article

Broker TP ICAP Points To Brexit Hit As CEO Steps Down
Tuesday, 10 Jul 2018 

July 10 (Reuters) - TP ICAP PLC ::REVENUES FOR SIX MONTHS TO 30 JUNE WERE 3% HIGHER THAN PRIOR YEAR AT CONSTANT EXCHANGE RATES AND 2% LOWER AS REPORTED.EARNINGS PER SHARE FOR 2018 ARE EXPECTED TO BE SLIGHTLY BELOW.GROUP IS REDUCING ITS SYNERGY TARGET FROM £100M TO £75M BY END OF 2019 ON AN ANNUALISED BASIS..JOHN PHIZACKERLEY IS LEAVING HIS POST AS CHIEF EXECUTIVE.UNDERLYING OPERATING PROFIT FOR 2018 WILL BE IMPACTED BY ADDITIONAL ONGOING COST HEADWINDS OF AROUND £10M.ROBIN STEWART HAS BEEN APPOINTED AS CHIEF FINANCIAL OFFICER ON A PERMANENT BASIS.TP ICAP - UNDERLYING OPERATING. PROFIT FOR 2018 WILL BE IMPACTED BY ONGOING COST HEADWINDS RELATED TO BREXIT, MIFID II, REGULATORY AND LEGAL COSTS & IT SECURITY.  Full Article

TP ICAP's profits fall, sees pick-up in trading volumes

TP ICAP , the world's largest inter-dealer broker, on Tuesday reported lower first-half profits as its broking business was hit by weak trading results at its investment bank clients, but said trading activity had revived in June and July.