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Most leading brokers listed on London and New York stock exchanges faced stock prices decrease this week, except for Plus500 (LON:PLUS), which is up by about 1.9%.
Gain Capital (NYSE:GCAP) and UK-based IG Group (LON:IGG) ended week down 3.6% and 4.4% respectively, while FXCM (NYSE:GCAP) prices plunged by 27,9 % this week. The slump in FXCM’s shares was expected, after the US forex broker announced a one-year extension of its credit agreement with Leucadia National Corporation (NYSE:LUK).
London-listed Plus500 (LON:PLUS) and CMC Markets (LON:CMCX), on the other hand, registered an increase in their stock prices. CMC Markets, which was recently listed in the stock exchange, experienced a 0.9 % weekly increase of its share prices after appointing Goldman Sachs and the investment bank RBC Capital Markets (part of the Royal Bank of Canada) as its joint corporate brokers.
Although Plus500’s shares have changed hands this week (JP Morgan Chase and the hedge fund Odey Asset Management, have reduced their shares in the company), prices of the broker’s stocks have climbed by 1.9%. In fact, there is a steady upward trend in company’s share prices since its acquisition by Playtech PLC (LON:PTEC) was cancelled in November.
What is more, earlier this year the broker reported a consolidated revenue of $275.6m in 2015, which is 20.4% higher than in the previous year, and a net profit of $96.6m.
| FX Broker | Stock Price at market close March 4 | Stock Price at market close March 11 | Change % |
| Plus500 | 619.00 | 631.00 | 1.9% |
| CMC Markets | 241.00 | 243.21 | 0.9% |
| Gain Capital | 7.47 | 7.20 | – 3.6% |
| IG Group | 774.50 | 739.97 | – 4.4% |
| FXCM | 15.415 | 11.10 | – 27.9 % |
Plus500 specializes in Contracts for Difference (CFDs), delivering trading facilities on shares, forex, commodities, ETFs, options and indices. It is licensed by three regulators – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).