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CMC Markets H1 profit hurt by regulation, low volatility

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(Reuters) – CMC Markets Plc <CMCX.L> reported a 76 percent slide in first-half pretax profit, hurt by curbs on client trading as London’s online trading firms face scrutiny from global regulators and sustained low market volatility.

The company, headed by Peter Cruddas, one of the City of London’s most prominent supporters of Britain’s exit from the European Union, said pretax profit fell to 7.2 million pounds in the six months ended Sept. 30, from 29.8 million pounds a year earlier.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru; Editing by Gopakumar Warrier)

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