Gain Capital (NYSE:GCAP) opens 7.38% higher on 2015 results

Gain Capital (NYSE:GCAP) opens 7.38% higher on 2015 results

- in All News, Forex Brokers
Gain Capital

After reporting significant positive movement in its 2015 financial results earlier on Tuesday, US forex broker Gain Capital (NYSE:GCAP) , owner of Forex.com, saw its shares on the New York Stock Exchange (NYSE) going up 7.38% to $7.57 at market open. In the previous day, Gain Capital’s stocks closed at $7.05.

The broker’s stock price ranged $7.22 – $7.77 as at 11:23 EDT. A total of 130,633 shares changed hands by that time.

GAIN CAPITAL shares

Earlier today, Gain Capital said its net revenue jumped 19% to $435.4 million in 2015. The broker’s net income, however, plummeted 59% to $10.2 million due to revenue adjustments of some $6.7 million related to last year’s acquisition of City Index.

The report showed that Gain Capital posted a much lower revenue growth rate for last year if compared to its main competitor, FXCM. However, FXCM’s financial report, which was published last week, caused the broker’s stocks to drop 22.5% upon the next market opening, since it revealed the company has extended by a year its credit agreement with lender Leucadia National Corporation.

Meanwhile, Gain Capital’s trading volumes for last month fell 13% on the month to $276.3 billion. The figure, however, represents an annual increase of 13.1%.

Gain Capital operates under the trading brands Forex.com and City Index for retail clients and GTX, and Gain Capital for institutional operations . It offers trading in forex, commodities, bonds, indices, and global equities, among others. It is active in North America, Europe and the Asia Pacific regions.

Source: NYSE

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