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IG benefits from spread betting bonanza

By This Is Money
Updated: 04:00 EDT, 23 January 2006

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SPREAD betting in financial markets is back to the highs of the technology bubble, IG Index claimed today.

Growth in trading volumes of nearly a third during 2005 saw IG's underlying profits soar £5.4m to £21.4m in the six months to 30 November, on the back of IG's 20,000 clients taking positions on financial markets and dealing in contracts for difference (CFDs) - where punters trade stocks without owning them.

'This is the highest growth in volumes we have seen since 2001,' said Nat le Roux, the IG chief executive who has seen his personal fortune soar to around £40m since the leading City bookie refloated on the market last spring.

Since a cut-price float at 120p, the shares have leapt to open today at 190p.

Much of IG's growth has come at the high end of the market, with high-rolling punters taking big positions on companies by trading CFDs. IG is paying a maiden interim dividend of 1.5p.

• IF you want to compare spread betting services, try our brochure ordering service.

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