Flow Traders falls as it flags big QoQ drop in Q2 trading income

Flow Traders

04/07/2023 09:08

** Shares in Flow Traders  FLOW.AS  fall around 3% after the
 Dutch trading services provider said it expects Q2 net trading
income (NTI) to more than halve from the prior quarter
    ** It sees Q2 normalised NTI of around 49 mln euros ($53.4
mln) vs 110.5 mln euros in Q1, and normalised other income of 2
mln euros
    ** KBC Securities notes a "very weak trading environment"
affecting the company and cuts its FY NTI estimate for Flow
Traders by 24% and net profit estimate by 33.1%
    ** "Low volumes and particularly very low volatility is
still ongoing coming into July, making for a weak start to 3Q as
well," KBC says
    ** Flow Traders will report full Q2 results on July 28
    ** The stock is trading at its lowest levels since October
2022

 (Reporting by Pierre John Felcenloben)
 ((pierrejohn.felcenloben@thomsonreuters.com))