- Brokerage IG Group warned Tuesday first-half revenue would undershoot that of last year as regulatory measures weigh on new client growth. Revenue in the first half was expected to be around 6% lower on-year, the company said. The number of new over-the-counter leveraged clients who traded for the first time with IG in the period fell 24% to 14,600 from 18,027 a year earlier.

Group revenue in the four month period since all the regulatory measures came into effect was expected to be around 10% lower than in the same period a year ago, the company added.

Revenue in that four month period in the ESMA region (UK and EU) was expected to be around 20% lower, with revenue from the group's business in Asia Pacific and other non-ESMA region countries expected to be around 9% higher.

With regulatory measures continuing to weigh on retail clients, the bulk of UK and EU revenues, around 70%, had been generated by professional clients, the company said.

IG Europe, the group's client facing subsidiary in Germany, had received its licence from BaFin, allowing the group to offer its regulated financial products in all EU member states following the UK's exit from the EU, IG said. At 8:06am: [LON:IGG] IG Group Holdings PLC share price was -29.25p at 579.25p

Story provided by