Shares of UK spreadbetting broker IG Group Holdings plc (LON:IGG) have been on the rise lately, and Monday hit brand new territory. IG shares topped the £7 level for the first time ever during Monday trading on the London Stock Exchange, changing hands as high as £7.09 before settling to close at £7.04, up 2% for the day.
IG Group now has a market valuation of £2.6 billion, or USD $4.0 billion.
No news seems to be driving the rise in IG’s shares. However IG will be releasing its second quarter financials soon after New Year’s Day – IG has a May 31 fiscal year end – and it seems as though investor expectations are high.
IGG share price past 12 months. Source: Google Finance.
IG already gave us a peak into its 1H results, stating that at least on the top line things were looking good, with fiscal Q2 revenues (for the quarter ending November 30) expected to come in at an all-time best,
IG has been active lately on several fronts. As exclusively reported at LeapRate, IG has:
- established ADRs for its shares, allowing US investors to trade IG stock.
- just added FXCM veteran Tal Zohar to its senior management ranks,
- opened operations in Switzerland,
- launched a new stockbroking platform.