TP Icap agrees $700mln takeover of dark pool trading specialist
New York-headquartered Liquidnet has more than 1,000 buyside clients for its equity dark trading, fixed income and investment analytics divisions
Company
TP ICAP PLC
LON:TCAP
TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy and commodities markets.
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TP ICAP delivers growth in first half but shares fall on cautious outlook
The largest revenue growth came from the company’s Institutional Services business, where revenues jumped 50% amid increased client appetite and more capacity to service new accounts
TP ICAP well positioned to capitalise on structural growth of OTC derivatives - broker
Barclays analysts initiated coverage of the wholesale market intermediary group with an ‘overweight’ rating and a 440p price target
TP ICAP in bolt-on acquisition
Michael Benhamou and Patrice Cohen who founded and led Louis Capital will remain as senior management.
TP Icap downgraded to 'sell' by ShoreCap
“The current c.30% premium, in our view, is not justified and we struggle on fundamentals to reason why TCAP should be worth more than its long-term average valuation,” said analysts at Shore Cap
TP Icap doffs its cap to perkier financial markets
Third-quarter revenues for the interdealer broker were up 17% year-on-year compared to the 1% growth in the first half
TP ICAP hit with £15.4mln fine as FCA blasts "incompetence" over broker conduct probe
The penalty followed an investigation into improper conduct at the brokerage firm, which the regulator said reflected a "high degree of culpable incompetence"
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FTSE 100 joins other global indices to head higher and finishes above 7,300
The Footsie added 0.34% to close at 7,324, while US shares are also higher at the time of writing
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Brexit 'Meaningful Vote 3': Slasher, thriller, or just postponed?
Aside from the Brexit shenanigans, the Day Ahead will also bring the release of the latest UK jobs data, plus trading updates from online retailers Ocado PLC and ASOS PLC
TP ICAP appoints Richard Berliand as its new chairman
The company said Berliand's experience would help TP ICAP build on its position as the world's largest inter-dealer broker and capitalise on the opportunities available in areas such as data & analytics
RBC initiates TP ICAP as ‘Top Pick’, sees key brokerage franchises as “underappreciated”
The bank said it saw the inter-dealer broker’s Data & Analytics business as “a source of robust, high-quality earnings growth”
TP ICAP buys US energy broker Axiom Commodity Group; revenue rises 1% in four-month period
Axiom will become part of TP ICAP's Energy & Commodities unit, providing pre-trade and market information and brokerage services to clients
FTSE 100 can't hold onto gains and closes in red as Wall Street shares drag
The FTSE 250 fared much better though, adding almost 154 points on the day to close at 19,325
Archive
Friday holds Trans-Atlantic focus amid US payrolls and Paddy Power/FanDuel US merger
US non-farm payrolls will hold most attention on the data front, while Paddy Power will draw eyes to the blue-chips with a trading update
NEX Group's £3.9bn ($4.96bn) takeover by CME Group cleared by UK competition watchdog
In a statement on Wednesday, the Competition and Markets Authority said it would not refer the deal, which will create a trans-Atlantic trading powerhouse, for any further investigation
TP ICAP in advanced talks to buy US energy broker Axiom Commodity Group: media report
The Financial Times’ said the two parties have been talking for several weeks, according to people with knowledge of the discussions, and added that a deal could be announced as soon as this week
TP ICAP picks Paris as EU headquarters as it reports sharp fall in first-half profits
Shore Capital raised its rating on TP ICAP to ‘hold’ from ‘sell’, saying the interims were in line with expectations
Investments and investor services
FTSE 100 closes higher, supported by gains in oil giants as crude prices rise
At the close, the UK blue chip index was 4.68 points higher at 7,663.78, just below the session peak of 7,681.86, having recovered from a low of 7,636.60
Numis places TP-ICAP rating, target under review after interdealer broker warns on profits
The Numis analysts said that, while they are still reviewing their forecasts, the likely impact on its 2019 forecasts will be a cut of around a third off their previous forecast for adjusted pre-tax profit of £322mln
Orosur Mining raises US$250,000 by selling shares at more than double their market value
A look at some of the main news-driven risers and fallers in London on Tuesday afternoon ...