StockMarketWire.com - Financial intermediary TP ICAP said its revenue had rise by 1% in the first quarter, with the modest growth assisted by currency movements.

Revenue for the three months through March rose to £469m, though it fell 2% on a constant currency basis.

Good growth in energy and commodities, institutional services and data and analytics was offset by global broking, which was hit by the weak market environment.

'The uncertainty created by Brexit, the softening of the Fed's interest rate stance, and the potential for more QE in the Eurozone has impacted our traditional banking customers' Q1 performance, weighing on market volatility and volumes,' chief executive Nicolas Breteau said.

'I am pleased with the performance of our energy & commodities division and the strong growth in both our Institutional Services and Data and Analytics businesses.'




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