AIM-focused stockbroker Cenkos Securities PLC (LON:CNKS) warned financial markets were heading into dangerous waters with investor confidence waning.
FTSE100 has fallen by 10% this year with the Dow Jones Industrial Average some 4% down and Anthony Hotson, Cenkos’s chief executive, said the uncertain geopolitical environment made it hard to predict markets’ direction or the health of investor sentiment.
“There has been significant market volatility leading to a correction in all main global indices.
“This market volatility does appear to have had an impact on investor sentiment with a pause in the momentum the firm experienced in the second half of 2017.”
Cenkos had a strong year overall but after a bumper dividend payout at the half-way point trimmed its final payment to 4.5p from 5p.
Pre-tax profits from continuing operations leapt 97% to £10mln on a revenue increase of 36% to £59.5mln.
Cenkos accounted for 21% of the £6.4bn raised on AIM in 2017.
Shares in the broker were 7% lower in early-morning trading at 109p.