Broker TP ICAP annual profit surges on higher market volatility By Reuters

© Reuters. FILE PHOTO: A broker looks at a graph on his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson/

(Reuters) – TP ICAP (LON:), the world’s biggest inter-deal broker, reported a 370.8% surge in its annual profit on Tuesday, underpinned by volatile trading in stocks and foreign exchange and improving investor confidence.

The London-listed firm, which brings together buyers and sellers in the financial, energy and commodity markets, reported full-year pretax profit of 113 million pounds ($137.40 million)for the year ended Dec. 31, compared with a profit of 24 million pounds last year.

($1 = 0.8224 pounds)

by : Reuters

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