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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| ICAP | IAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 469.70 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 469.70 |
| Top Posts |
|---|
Posted at 19/11/2014 13:31 by fangorn2 By Paul J. DaviesICAP has added more strings to its bow in recent years. But these still aren't covering up the fact that its core business is sagging. The U.K.-listed interdealer broker helps to direct the traffic of bonds, foreign exchange and derivatives among the world's banks and investors. To some extent, ICAP is suffering the same structural malaise as investment banking: the regulatory response to the financial crisis has taken huge volumes of trading out of global markets because banks no longer have either the capital or funding to back the kind of market-making businesses they used to run. ICAP's response has been to restructure its old, core business while bulking up in new areas like electronic markets, risk management and information. ICAP's voice-broking business has seen its share of group turnover fall from more than half in 2010 to less than one-third. But sales and profits are still falling. ICAP's revenues were down 15% in the first half of this year to September, while operating profits fell 34% to GBP100 million ($156.5 million). Annualize that result and ICAP's revenues for the year to March 2015 would be down by almost 25% since March 2010. The costs of trying to battle this trend are hurting ICAP's bottom line. About 260 brokers, or 13% of its head count, have already left ICAP this year. But the company has spent GBP22 million to achieve just GBP6 million of savings in the first half out of a targeted GBP60 million by the end of next year. ICAP only started this latest round of restructuring in May. But that progress still looks disappointing: ICAP's shares fell 8% Wednesday. The trouble is that the profitability of brokering businesses is under pressure, even in ICAP's new areas. Operating margins in electronic markets are down to 34% in the first half of the year from 40% in 2010; in risk management and information they have fallen to 39% from 49%. Some of these businesses are doing well. TriOptima, which helps banks collapse large portfolios of derivatives into a smaller number of trades, is in high demand as banks squeeze their balance sheets. But these are increasingly competitive fields. ICAP is ahead of some broker rivals such as Tullett Prebon in pursuing electronic trading, risk and information services but other groups such as Markit are coming from the information sector to attack the same battleground. On a forward price-earnings ratio of 14.6 times, ICAP is at a hefty premium to Tullett on nine-times, but a big discount to Markit on 16.9-times and to an exchange like the London Stock Exchange on 19.6-times. With trading activity still moribund, ICAP needs to hit its cost targets quickly to not lose further ground. Write to Paul Davies at paul.davies@wsj.com Access Investor Kit for Tullett Prebon Plc Visit hxxp://www.companysp |
Posted at 08/10/2013 09:03 by cgee1 Stop your shares being loaned for shorting.....this was taken from a CFD siteThere are two things you can do, the first is to certificate them but this is not obviously to everyone's advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today's price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps. Although an individual personal investor will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on. Well worth doing if not only for the knowledge that your own shares cannot and will not be used in a short attack against the very share that you own. |
Posted at 12/7/2013 12:03 by andrewbaker Given the current stock market volatility worldwide, ICAP is a safe place to hold money for the medium to longer term investor. The dividend is good, and well covered; and no cash or rated bond investment can compete with the pay-out: so, providing one doesn't need the cash in the short term, putting it into shares of ICAP will provide a useful income stream, plus a vehicle for growth in the future as world economies improve, which will benefit ICAP.From a technical viewpoint, it's also got loads of support at 360p, and may drop back a little in the short term as it's above its 200dma, which itself is turning upwards, suggesting the medium to longer term trend is northwards. Using Bollinger Band and Relative Strength studies also show it in a good light, other than the short term. And the shorter term ma have recently crossed back above the 200dma, being another favourable sign, IMHO. Disclosure: long IAP. |
Posted at 26/6/2013 11:46 by bend1pa No one but an inexperienced investor takes a brokers opinions seriously. Half the time they get it wrong, and nearly all of them have been getting this one wrong as it's been climbing 25% over the past couple of months or so. Nearly all were negative at £3 This needed some profit taking as it had been climbing too far, too fast. Will continue recovery (imho). |
Posted at 23/6/2013 06:49 by kalkanite Expect a 15 - 16p drop between 26th and 28th as the company goes ex dividend for a 15.4p payment to be received on 19th Julyhxxp://www.icap.com/ |
Posted at 30/5/2013 17:51 by jeffian Plus investors are falling over themselves for anything paying a decent divi yield. As long as they can maintain the divi, it's attractive here and there's not much else about. I know; I've been looking! |
Posted at 26/2/2013 11:37 by nofool All great highly tradeable companies there Doc. Nothing to get depressed about, just improve on your timing a little and heh presto - Doc's a millionaire!These past five or six years on the stockmarkets of the world, I think has taught most investors, that they need to be really - traders. In and out on the waves; there is so much uncertainty and volatility. The next solid bull run will come again of course but who knows, we might be 20 or 30 years away from that..? |
Posted at 05/2/2013 13:48 by jeffian Maybe it was this -"05.02.13 ICAP electronic broking volumes up 17% year-on-year Spot FX volumes up 22% year-on-year London, 5 February 2013 - ICAP (IAP.L), the world's leading interdealer broker and provider of post trade risk and information services, announces today that average daily volumes on the BrokerTec and EBS platforms for January 2013 were $767.9bn, 17% higher than in January 2012 [1]. Average daily volumes in fixed income products on the BrokerTec platform were $626.6bn, an increase of 16% year-on-year. Average daily US Treasury volumes on BrokerTec were US$144.9bn, an increase of 27% year-on-year. Overall repo volumes were $481.7bn in January up 14% year-on-year, reflecting a 7% increase in US repo and a 20% increase in European repo. Average daily spot FX volumes on the EBS platform were $141.3bn, up 22% year-on-year and 54% month-on-month. Contacts: Serra Balls Head of Public Relations +44 (0) 20 7050 7124 Alex Dee Head of Investor Relations +44 (0) 20 7050 7123" |
Posted at 17/11/2011 17:41 by highlands I noticed the RNS this afternoon regarding the interests of INCAP Overseas B.V. crossing above 7%.As far as I'm aware, INCAP Overseas B.V. is a wholly-owned subsidiary of INCAP Finance B.V. and the ultimate holding company of INCAP Finance BV is IPGL Limited which is in turn mostly owned by Michael Spencer, the CEO of ICAP. Therefore, unless the ownership of INCAP Overseas B.V. has changed (which I doubt), Spencer is increasing his stake in ICAP. If this is the case, shouldn't there have been a Director Dealing RNS? In the past when IPGL or it's subsifiaries have sold shares, I am sure they were reported as such so why should it be any different if it is a buy? |
Posted at 02/10/2010 21:40 by ronjen ICAP Tip/Comment following Trading StatementFri 01 October 2010 06:07 Independent Icap's shares took a fall yesterday, largely because its failure to do anything more than meet expectations after rallying sharply since February's 40 per cent slump. The recent development of an electronic market for euro interest rate swaps, by some measures the world's biggest financial market, is a statement of intent and a testament to the vision of Icap and boss Michael Spencer in particular. Investors who follow Spencer will be repaid long-term. Arguably, these shares are undervalued, so buy, says the Independent. Times The Times agrees. The lack of visibility into the second half means analysts' forecasts are a long way apart -£333 million to £357 million. It will be somewhere between, and a middle view puts the shares on about 12.5 times this year's earnings. The shares have been rising of late and are a long-term hold at this level, but a buy on any further weakness, it reckons. |
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