IG Group shares cross £9 level for first time as market cap tops £3.3 billion


Shares of the London-based IG Group Holdings plc (LON:IGG) continued their move upward to hit a 52 week and all-time high late last week, closing Friday trading at £9.12. Intraday, IG shares hit an all-time high of £9.15.

This marks the first time that IG shares have crossed the £9 barrier, as the company’s stock continues on a six-month move upward unfazed by events such as Brexit, slow economic growth, low interest rates, ISIS attacks…

IG’s current share price gives the company a market capitalization of £3.35 billion, or about USD $4.4 billion.

In late July IG reported that Revenues and Profits were up nicely in the second half of Fiscal 2016 (IG has a May 31 year-end). Revenues in Q4 (£119M) did take a small dip from what was a very busy and record Q3 at IG (£122M). Profits in the second half of the year (to May 31) were up nicely to £88 million (vs ££77 million in 1H), but still below IG’s record half-year profit of £101 million set in 1H last year.

IG Group share price graph Aug2016

IG Group share price past 6 months. Source: Google Finance.

 

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IG Group shares cross £9 level for first time as market cap tops £3.3 billion

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