Icap sees rays of light as volumes rise
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shares in Icap, the broking giant founded and run by Michael Spencer, soared yesterday after it said everything in the City is not quite as gloomy as people feared.
It said January had seen a recovery in business from the low levels between October and December. However, it cautioned that electronic broking volumes were down 19 per cent on January 2011 because of low volatility in the yen and Swiss franc.
Mr Spencer (pictured) backed Chancellor George Osborne's bid to make London the centre for international trading of the Chinese renminbi. He is flying into Beijing today and said: "It is very, very high on our list of priorities."
Icap said profits for the year to March would now be at the top end of market forecasts, which range from £336m to £358m.
The shares rose 26p to 362p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments