TP Icap Group (TCAP)

Sector:

Financials

Index:

FTSE 250

226.20p
   
  • Change Today:
      1.80p
  • 52 Week High: 226.60
  • 52 Week Low: 141.00
  • Currency: UK Pounds
  • Shares Issued: 769.43m
  • Volume: 240,909
  • Market Cap: £1,740.45m

Strong dollar helps boost revenues at TP ICAP

By Abigail Townsend

Date: Wednesday 17 May 2023

LONDON (ShareCast) - (Sharecast News) - TP ICAP Group reported a jump in quarterly revenues on Wednesday, boosted by the strong dollar.
The London-listed interdealer broker said total revenues in the three months to 31 March had strengthened 2% to £606m, or by 9% in reported currency.

Within that, energy and commodities revenues improved by 10% on the same basis, while global broking jumped 9%. Market conditions in European gas and power "continued to improve", TP ICAP noted, leading to an increase in revenue, although it did not provide a figure.

The one weak spot was its Liquidnet digital trading unit, where revenues fell 3%.

Looking to the rest of the year, TP ICAP said: "We remain well-positioned and expect interest rates to remain at elevated levels throughout the year. At the same time, the benefit of the recent strong US dollar is now moderating."

Vivek Raja, analyst at Shore Capital, said: "The first quarter represents 28% of our revenue estimate for the current year. The first quarter is typically TP ICAP's strongest, and if cable remains at the current level, a forex translation tailwind in the year to date becomes a headwind in the second half.

"With unchanged guidance, at this early stage we are not moving forecasts. The outlook is cautiously positive. Despite recent share price weakness, further disappointment in Liquidnet might weigh on the share price."

Shore has a 'buy' rating on the stock and a target price of 169p.

As at 1015 BST, the shares were trading 2% lower at 165.25p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TP Icap Group Market Data

Currency UK Pounds
Share Price 226.20p
Change Today 1.80p
% Change 0.80 %
52 Week High 226.60
52 Week Low 141.00
Volume 240,909
Shares Issued 769.43m
Market Cap £1,740.45m

TP Icap Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.86% above the market average75.86% above the market average75.86% above the market average75.86% above the market average75.86% above the market average
25.71% above the sector average25.71% above the sector average25.71% above the sector average25.71% above the sector average25.71% above the sector average
Price Trend
88.91% above the market average88.91% above the market average88.91% above the market average88.91% above the market average88.91% above the market average
82.76% above the sector average82.76% above the sector average82.76% above the sector average82.76% above the sector average82.76% above the sector average
Income
89.39% above the market average89.39% above the market average89.39% above the market average89.39% above the market average89.39% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average
Growth
3.55% below the market average3.55% below the market average3.55% below the market average3.55% below the market average3.55% below the market average
10.28% above the sector average10.28% above the sector average10.28% above the sector average10.28% above the sector average10.28% above the sector average

What The Brokers Say

Strong Buy 3
Buy 3
Neutral 1
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TP Icap Group Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 28-Sep-23
Paid 24-May-24 03-Nov-23
Amount 10.00p 4.80p

Trades for 28-Mar-2024

Time Volume / Share Price
11:36 1,678 @ 226.16p
11:25 58 @ 226.20p
11:25 41 @ 226.40p
11:24 30,689 @ 226.40p
11:24 523 @ 226.40p

TP Icap Group Key Personnel

CEO Nicolas Breteau
CFO Robin Stewart
Chair Richard Berliand

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