IG Group and ICAP see shares soar

Investors seem to be betting that increased trading volumes are here to stay.

With no other news out there as the catalyst, it seems as if ICAP’s healthy January trading volumes reported earlier this week have triggered a buying frenzy of both its shares, and those of leading UK spreadbetting firm IG Group.

Over the past two days, IG Group shares are up 7%, and ICAP is up 11%. Both companies are publicly traded on the London Stock Exchange.

IG Group’s shares may have been helped by some “non-news” news, with a regulatory release reminding traders that hedge fund whiz William von Mueffling’s Cantillon Capital Management has taken a 5% stake in IG Group, worth about £89 million ($139 million). Cantillon’s investment in IG Group was actually made in 2011 and was fully disclosed then, the current release was made because Cantillon adjusted their position in IG Group by just a few thousand shares.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

Read Also: