Share Name Share Symbol Market Type Share ISIN Share Description
ICAP Plc LSE:IAP London Ordinary Share GB0033872168 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 469.70p 0 06:30:09
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 460.0 110.0 24.6 19.1 3,065.65

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Date Time Title Posts
03/11/201609:48ICAP - A FTSE 100 COMPANY1,762
15/7/201312:07Short ICAP-
27/1/201312:50ICAP is making big profits and is on its way up!189
25/11/201212:30ICAP - A FTSE PROSPECT88
24/11/200423:25ICAP has peaked195

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dmf: bend1pa - You could argue that that information is already factored into the share price !
hyden: Courtesy of Kefta over on IAP thread (re-posted here because of its relevance): from Bloomberg ICAP Plc (IAP) and Tullett Prebon Plc (TLPR), two London-based brokers, led financial stocks higher after they were upgraded by UBS AG on prospects of higher trading volumes. ICAP, the biggest broker of interest-rate swaps between banks, rose as much as 4.6 percent to the highest intraday price in more than 11 months. The shares were up 3.5 percent at 361 pence at 11:20 a.m. It was the best performer in the Stoxx 600 Financial Services Index. Tullett Prebon, an interdealer broker that lines up buyers and sellers of securities for banks, rose as much as 5.7 percent and was up 4.7 percent to 287.9 pence, the highest price since Feb. 25. It was the fifth-best performer among the 600 members of the FTSE All-Share Index. UBS upgraded both ICAP and Tullett Prebon to neutral from sell, citing valuations as well as the likelihood of increased trading volumes. Both companies have underperformed financial stocks by about 35 percent over the past year and exchanges by about 30 percent, the bank said. "This underperformance has been driven by a relative de-rating and weak earnings momentum," UBS said in a note to clients. "We see risks to the upside on both fronts." Interdealer broker trading volumes are up 9 percent in May from April and 6 percent from a year ago, UBS said. The volume of shares traded on the FTSE All-Share Index (ASX) last year was the lowest this century, according to data compiled by Bloomberg. UBS raised its 12-month share price target for ICAP by 11 percent to 340 pence from 305 pence and removed the stock from its least-preferred list. It increased the price target for Tullett Prebon by 12 percent to 280 pence. The bank also raised its earnings estimates for both companies.
kalkanite: no fool 1 Inde 0 No fool, Me thinks that Inde has just got a penalty kick and you are down to 10 men :-) Seriously though, I can't see what would be the catalyst for a share price drop? Its on a fwd & historic PER of less than 10 which for a FTSE 250 is good value, it has made great inroads in cutting costs and all this at a time when the CEO says is the worse in his 36 years (iirc) experience. Can it get worse? Famous last words?
dapper don: Dare i say my vote of confidence in the share price done the trick highlands ? : ))) how many times have we seen the same smash down in the price you buy then before you know it we are back above 4.20 again . Certainly not dull owning this stock . Spencers cost cuttings have also gone down well
highlands: Dapper, look at what your vote of confidence did to the share price today :-)
rennes: Jeffian, Indeed I hope your 2012 will by happy but above all prosperous too. Near the precipice the slightest breeze sets off a panic and this is likely to be seen in the volatility of the share price so a tricky market for Daytraders or those of us who keep an active hand in the Pension fund. Nice to see ICAP go over 346 on Friday after a wobble or two. CFD set around 3.42. We should get some continuing uptrend positivity in Jan, I feel. The Euro crisis would certainly have happened. (Your question) However not with such scale and ferocity without the Financial panic which you will recall all started in 2007, over the pond, and then came to Northern Rock. Since then, progressively, the whole unhealthy pile has unraveled at various speeds, tempered by Government intervention. It is NOT over. Like companies once the "Going Concern" assumption begins to be questioned, all previous trading norms are in question. The board./government seek measures to "trade out of the difficulties" with new resolutions in stewardship and new trading models. Euroland was certainly rife in the South with expensive "infrastructure catch up" projects funded by cheap loans and historical cultural inadequacies that increase society transaction costs ( Government officials on the take , poor judicial systems ). These undoubtedly have contributed to the deficits but were manageable "leaks" in the Euroland coffers since they could be identified and factored in even as cultural change was introduced ( slowly ) - I saw this in Romania for example where I worked for a while. However "The banking crisis" was a TSUNAMI whose speed & amplitude introduced a new paradyne and shook the whole foundation of "fractional reserve banking" and unregulated derivative trading putting into question "going concern" valuations etc. Once the "going concern" assumption is threatened there is a completely different way of considering valuations and exposures....with consequences that cascade down through the economic infrastructure.Banks for example no longer lend to each other - Fear abounds - spiral down! To recover from this one has to have a forward geopolitical vision that people can grasp and believe in. I see only one "Big picture Vision" presently . This is Federalism and integration in Europe. Not saying it is good just noting it exists. The "masses" can grasp this and support it since it is easy to understand and gives benefits to the majority. If nothing else the threat of wars are averted. Even the Middle East has now an driving Vision - democratisation and building a middle class. I see nothing in our "Anglo Saxon" world view presently other than negativity and fear. Tell me where are we heading? nowhere currently ! Our leaders have us rowing around in circles with one oar- there is no overall POSITIVE objective that sets our heading. Only continued firefighting and disaster mitigation. We cannot grow, We cannot invest and the foundation for our main GDP contributor - financial services is shaking precariously. ( not sure but this has moved from I think 8% to 30ish % of GDP) Thus without such an overarching objective ( which in previous times was a war ) we tread water while our Euroland brothers continue to put their foundations in place against a clear direction. Shortermism replaced by longermism, social justice and participation in corporate wealth, mutuality .... I could go on. Interestingly the Chinese have bought into this vision Alas This time, without a North Sea Oil to revive us, we will at best enjoy a long period of Stagflation while the markets in Euroland and our European neighbours recover and grow through exports to China and Developing countries. Our manufacturing base is too weak now to compete. I am betting that the speculative attacks on Euroland you reference will fail since they will be attacking a belief structure that is healthier and in the end will prove resilient. We shall see. Anyway on that more postive note - since I shall be moving to France - Bonne Anne 2012
rennes: Ronjen, I have just taken a CFD out on ICAP basically betting that we are now in a 3 month uptrend.This has come off a chartist's view that there is a support level around 320 and a decreasing resistance level ( 3 month projection ) at around 375. I have a stop at 307. Without your comprehensive understanding of the particulars of these shares I see the EU debt situation becoming slightly less of an issue into the New Year and therefore some of the perceived risks around this share dissipating with the attendant upswing in price? Only my view-we shall see. I am interested to know what your average share price is for your holding?
bb123: Any views on the share price fall? I have copied below 2 Bloomberg TV interview with Michael Spencer ICAP CEO
ronjen: Some of you may not know what an altruistic company you are invested in: Each year Icap hold a "Global Charity Day", which is one day each year when 100% of the firm's revenue and all the brokers' commissions are given away to charities. The 2010 event was held on 9th Dec, and raised £12.1 mill, bringing the total raised over the years to £76.6 mill. See: More detailed info here: p.s. Don't forget that it was only 3 years ago when the share price topped £7. I would like to think that this level is achievable again in 2011! Regards, and a happy & prosperous new year, (from an retired employee).
ards: Spencer sells, Icap warns and the City reacts Posted by Neil Hume on Feb 05 08:51. Ouch. That's the price action in Icap on Friday morning after the inter-dealer broker warned on profits. Icap now expects underlying pretax profits for the year to March 2010 to come in between £295-£315m. To put that figure in perspective, back in November, management told the City they were confident of meeting consensus underlying March 2010 PBT forecasts of £311m-£347m. So what's gone wrong? The answer seems to be that new investments are taking longer than expected to achieve profitability, according to analysts. Citigroup: Miss blamed on new investments taking longer to achieve profitability – ICAP details that the trend of softer volumes mid-Nov to end-Dec hit interest rate products. However, their lowered PBT guidance is more attributed to investments taking longer to break-even. We understand this refers to slower-than-expected equities volumes and the Brazilian integration taking longer to strip out costs. Bank of America Merrill Lynch: The issue appears to lie in the company's new businesses. These were broken out in H1, when it transpired that overall the new businesses had lost £7m. At the time, the company was optimistic that these businesses would begin to be profitable. Judging by the company's narrative, this is not the case; the performance here is described as "mixed". Crudely, it sounds as if Brazil is performing decently and ship broking and cash equities are finding the going tough. Now, one could argue that this morning's 18 per cent fall, which has wiped £400m per cent off Icap's market value, is something of an overreaction, especially given recent weakness in the share price. But the City is likely to be less than impressed by the fact that Icap boss – and Conservative party treasurer – Michael Spencer recently sold stock. From RNS on January 11th. "On 11 January 2010 IPGL's subsidiary company INCAP Finance B.V. sold 7,000,000 of the 118,069,560 ICAP plc ordinary shares it owns at a price of £4.40 per share. The proceeds from this sale will be used by IPGL to continue the reduction in leverage on its balance sheet in which it has made significant progress during the past year. IPGL had previously planned to make other asset disposals, as part of the rebalancing of its investment portfolio, a process which it expects to revisit as liquidity & value returns to alternative asset classes. Michael Spencer, the founder and chief executive of ICAP plc, together with his wife and family trusts, are majority shareholders of IPGL Limited. In addition, Michael Spencer sold 3,308,248 at a price of £4.40 per share of the 6,140,778 ICAP plc ordinary shares comprising his personal interests. Following this transaction, Michael Spencer had a personal interest in 2,832,530 ICAP plc ordinary shares and through IPGL he had a further interest in 111,069,560 ordinary shares. Together these represent 17.4% of ICAP plc's share capital." So a total of 10.3m shares sold at 440p less than a month before a profits warning. (At pixel time, the current share price is 308p) For what it is worth, Icap has also made some comments about the "Volcker rule". They are sticking to the line that prop trading only represents around 2-5 per cent of banks trading revenues and therefore the hit to its business will not be significant.
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