Latest news with #marketfrenzy
Reuters
6 days ago
- Business
- Reuters
UK's TP ICAP half-year profit falls short, shares decline
Aug 6 (Reuters) - British inter-dealer broker TP ICAP (TCAPI.L), opens new tab posted weaker-than-expected half-year operating profit on Wednesday, after delivering robust performance in recent months, sending its shares down nearly 9%. TP ICAP saw soaring trading volumes after U.S. President Donald Trump's tariffs threw global market into a frenzy. Clients rushed to reshape their portfolios and take advantage of the slumping dollar. The company's adjusted operating profit rose 10% to 184 million pounds ($244.59 million) in the first half of the year, but fell short of the 189 million pounds markets expected, according to Shore Capital analyst Vivek Raja. Shares of the company were down 5.5% to 290 pence in early trading. They had risen 19% this year as of yesterday's close. Raja attributed the share decline to higher costs, the lack of an update on the Parameta unit IPO and some profit-taking by investors. In May, TP ICAP said it would revisit the timing of a potential listing for its data and analytics business, Parameta - initially expected in the second quarter - citing continued market turbulence. The London-based company posted a 7% growth in half-year revenue and also launched a new 30 million pounds share repurchase programme. ($1 = 0.7517 pounds)
Bloomberg
30-05-2025
- Business
- Bloomberg
US ‘Bigger Bubble' Shift May Ignite Stocks, Says BofA's Hartnett
The latest turn by the Trump administration to favor tax cuts and lower tariffs has the potential to kick off another speculative frenzy in markets, according to Bank of America Corp. strategists. The flip in US economic strategy to 'we're going to need a bigger bubble' as the solution to the debt problem could incentivize traders to ditch bonds and pile back into artificial intelligence and crypto trades, wrote the team led Michael Hartnett.
