With more and more investors bidding in the shares of IG Group, the UK’s leading forex broker is now seeing an all-time major upsurge in its share value. With its current share available at the price of £6.46, IG’s market cap has now reached an impressive £2.4 billion – making its previous years’ investors happy all the way.
As of today, 11p was added to the shares in IG Group, thus rising to the total of 647p, which is 33% more than the previous year. Competitively, IG’s gain is far ahead of the FTSE, which has just seen a mere 10% rise over the same period.
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When one tries to rollback, he can notice how IG has been able to win the trust of its investors. The company’s share prices are rising in a steady speed in the wake of the consistently improving results. Earlier, IG had reported a decline in revenues within its second quarterly report it submitted on January 14. The second-quarter reports showed key comparisons with the IG’s with its first-quarter report, in which the former is 5% below the latter.
The drop was also blamed at IG’s re-branding process, which however turned out to be quite a success by assembling all its verticals under one canopy. Meanwhile, the IG’s share-success-story is also credited to the growing industry volumes and to the trade pundits who have been anticipating a greater show from the company’s next report in May.
On the flip side, IG’s senior managements saw some major changes with its longtime Chief Marketing Strategist David Jones and its Head of UK’s office Tim Hughes resigning from their posts. But overall, the company current is at its peak with an impressive share price performance.
Meanwhile, IG’s competitors are also enjoying a show of success with UK CFD broker
Plus500 going public and tripling its share value eventually, wearing a market cap of over $500 million.
To contact the reported of the story: Jonathan Millet at john@forexminute.com
