Punters up their bets on the markets
The numbers added up to a hugely successful start to the new year yesterday for two of the biggest City bookmakers.
As punters increase the volume of financial wagers they are taking, CMC Markets lifted its forecast for full-year operating income only five months after issuing a profit warning, while Plus500 said that its revenues and profits for 2023 were significantly ahead of market expectations. That, in turn, sent shares in the two companies soaring.
Improved optimism about stock markets and greater interest in bullion markets had increased clients’ activity, while the volatility in the oil sector since the eruption of the Israel-Hamas war also had boosted volumes, David Fineberg, 44, the deputy chief executive of CMC, said.
The company now expects to make net
