Flow Traders shoots up as US revenue well above consensus

Flow Traders

26/10/2023 10:33

** Shares of trading strategist Flow Traders  FLOW.AS  rise
8.3%, pushed by results above consensus in the U.S. despite
snags in Europe
    ** Stock on track for its best day in over a year
    ** 'U.S. revenue came about 70% higher than consensus and
drove the main top line' said Iulian Dobrovolchi, analyst at
ODDO BHF
    ** However, the analyst noted that its ETPs, a type of
securities that track indexes, and other financial instruments,
reported weaker-than-expected in Europe
    ** 'What held them on the top line was the drop in market
shares in the ETP product in Europe. At 28.5%, it is the lowest
in the history of the company as a listed entity', he said
    ** Stock cuts year-to-date losses to 19.6%

 (Reporting by Nathan Vifflin)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))