Shareholders in CMC Markets have become accustomed to good news from the spread-betting company (Ben Martin writes). Since the middle of 2019, the online trading business founded by Lord Cruddas, the City tycoon and former Conservative Party treasurer, has published a series of forecast upgrades.
Yesterday’s trading update was no different, with CMC saying that it expected net revenues for its present financial year, which ends on March 31, to exceed the most optimistic analysts’ prediction of £399.6 million. Investors responded by sending CMC shares up 13p, or 2.9 per cent, to 457p.
Like IG Group and Plus500, its rivals, CMC has emerged as a big beneficiary of the turmoil wrought by the coronavirus pandemic. The company is a seller of spread bets and
