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CMC markets sounds profit

CMC markets sounds profit

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Global Business Review Magazine
Thursday, March 23, 2023
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CMC markets sounds profit

CMC markets sounds profit

Online trading platform CMC Markets cut its annual earnings outlook by up to 80 million pounds ($110.24 million). This is because of the reduced market volatility resulted in lower transaction volumes across new and existing clients. CMC had raised its outlook multiple times this year as a retail trading boom and market volatility fueled volumes across the sector.

But those levels have eased as government awareness and rules and vaccinations have quelled fears about the pandemic’s impact on growth, with the CBOE volatility index, or Wall Street’s fear gauge, settling at about 16.11. 85.5 in March last year, was its peak. The British company now expects fiscal year 2022 operating income between 250 million pounds and 280 million pounds. CMC was confident of generating in excess of 330 million pounds. The company stated that the client numbers remain up around a third from pre-pandemic numbers. This is while the assets under management remain near record levels. Operating costs for the year through March 31, 2022 will be moderately higher. But still will be partly offset by lower marketing costs in line with lower activity.

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Recent News

Data shows that US inflation cooling

Household wealth anticipation has declined, claim by global poll

Support measures push Japanese corporate bankruptcies to 50 year low

How is the bond yield controlled in Japan?

BOJ’s Kuroda signals readiness to extend pandemic-aid scheme

Policy takes the u-turn; BoJ’s yield curve may slip

Asia shares falls on worries over inflation, Fed outlook

Stocks are calm ahead of a possible CPI hurricane

Artificial intelligence to take on the Aviation industry too

Normalcy wished to revert to airlines after FFA blackout

Dollar dented as consumer sentiment dives

Dollar declines on expectations of weaker US rate increases and China’s resumption

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Household wealth anticipation has declined, claim by global poll
  • How is the bond yield controlled in Japan?
  • Policy takes the u-turn; BoJ’s yield curve may slip
  • Stocks are calm ahead of a possible CPI hurricane
  • Normalcy wished to revert to airlines after FFA blackout

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