Markets News

Online trading firm CMC upbeat on annual income amid high market volatility

Oct 8 (Reuters) - CMC Markets on Thursday said its annual net operating income (NOI) will be towards the upper end of the current market consensus, as trading on its online platform benefited from this year’s coronavirus-driven market volatility.

CMC, whose shares briefly dropped this week when Britain’s financial watchdog announced a ban on the sale of products that track the price of crypto-assets to retail investors, said NOI would be towards the upper end of the 321 million pounds to 348.7 million pounds range estimated by analysts. Last fiscal year, it posted 252 million pounds in NOI.

Reporting by Muvija M and Shanima A in Bengaluru; Editing by Vinay Dwivedi