- Online trading brokerage CMC Markets said it was 'confident' net operating income would be towards the upper end of the current range of consensus following 'strong' performance in the first half of the year.

Current consensus for net operating income was £329.9 million, ranging from £321.0 million to £348.7 million.

For the six months ended 30 September, CFD trading revenue was approximately £200 million , up from £85 million a year earlier.

Client income retention remained 'strong and well in excess of guidance of above 80% due to the market conditions prevailing for much of H1 2021 and continued improvements to the risk management strategy.' the company said.

Stockbroking net revenue was expected to increase to approximately £26 million for H1 2021, mainly as a result of the continued growth across the business and increased client activity.

Operating costs for H1 2021, excluding variable remuneration, would be approximately £80 million, up from £65 million a year earlier, the company said.

Operating costs were anticipated to be 'moderately above' consensus of £148.5 million, it added.

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