
IG Group is a UK-based financial services company that offers online trading. The company is the world’s number one spread betting and CFD provider based on revenue and is also the UK’s largest forex provider. It is listed on the London Stock Exchange and currently has a market capitalisation of £2.7 billion.
Strong full-year results
IG Group shares have outperformed in 2020 due to increased client activity throughout the Covid-19 pandemic. Year to date, the stock is up 8% versus a -22% fall for the UK’s mid-cap index, the FTSE 250. However, since the company issued its full-year results on 23 July, the stock has pulled back. The full-year results were good, with net trading revenue increasing 36% to £649 million and profit before tax increasing 52% to £295.9 million. However, investors didn't like the fact that trading at IG has moderated since March.
Source: 2iQ Research