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TCAP - TP ICAP News Story

346.9p 1.9  0.6%

Last Trade - 20/09/19

Sector
Financials
Size
Mid Cap
Market Cap £1.94bn
Enterprise Value £2.06bn
Revenue £1.78bn
Position in Universe 293rd / 1827

Interdealer broker TP ICAP selects Paris for EU hub, profit falls

Tue 7th August, 2018 7:19am
Aug 8 (Reuters) - TP ICAP Plc  TCAPI.L , the world's largest
interdealer broker,
said on Tuesday it chose Paris to be its European Union
headquarters after Britain leaves the bloc, as it reported a
more than 52 percent drop in first-half pre-tax profit.  
    The company, which brings together buyers and sellers in
financial, energy and commodities markets, said pre-tax profit
fell to 34 million pounds ($44.03 million) in the six months
ended June, from 71 million pounds a year earlier.  urn:newsml:reuters.com:*:nRSG9895Wa
    TP ICAP fired its chief executive officer last month and
warned rising costs related to Britain's EU exit and new rules
on market transparency would see profit fall short of
expectations this year.  urn:newsml:reuters.com:*:nL4N1U62O6
($1 = 0.7723 pounds)

 (Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Bernard Orr)
 ((noor.hussain@thomsonreuters.com; Within UK +44 20 7542 1810;
Outside UK +91 80 6749 2764; Reuters Messaging:
noor.hussain.thomsonreuters.com@reuters.net))
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