This content is not available in your region

Tighter rules hammer IG Group's annual profit

Access to the comments Comments
Tighter rules hammer IG Group's annual profit
FILE PHOTO: Dealers work on the IG Group trading floor in London, Britain June 30, 2015. REUTERS/Neil Hall   -   Copyright  Neil Hall(Reuters)
Text size Aa Aa

(Reuters) – Online trading platform IG Group Holdings <IGG.L> on Tuesday reported a slump of almost a third in its earnings for the year, hurt by Europe’s clampdown on the provision of access to high-stakes financial betting to amateur traders.

The mid-cap company, which allows individuals and other non-institutional retail investors to bet on stock, currency and oil market moves, said pretax profit plummeted 31% to 194.3 million pounds for the 12 months ended May 31.

(Reporting by Muvija M in Bengaluru; editing by Patrick Graham)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.