Reuters - Online trading platform CMC Markets Plc pointed to a pick-up in client activity in September on Thursday as the China Evergrande debt crisis and inflation concerns spurred market volatility and boosted trading volumes.
Stocks globally have retreated in recent weeks after months of recovery, due to concerns about property developer China Evergrande and rising inflation, pushing the CBOE volatility index or Wall Street's fear gauge to a four-month high.
The first six months of 2021 closed with a pickup in market volatility and client trading volumes followed what was a more subdued environment at the beginning of the year, CMC Chief Executive Officer Peter Cruddas said.
CMC rival Plus 500 Ltd raised its forecast again on Monday, saying it saw further positive momentum in the third quarter.
CMC also maintained its full profit outlook of 250 million to 280 million pounds $340 million to $380 million that was cut last month due to subdued volatility.
It said that active clients were below the year-ago levels during the first half of the year.
Operating costs and investment expenses for the first half of 2018 are expected to be $84 million, excluding variable pay, from the $79 million reported a year ago.