IG Group enjoys record month
Spread betting firm IG Group enjoyed a record month in August as punters flocked to take advantage of huge swings in stock markets and currencies.
Revenues surged by 26 per cent to £100m in the quarter that ended last month with the number of active clients rising by a fifth and the average amount spent by each customer up by eight per cent.
Stock markets have fluctuated in recent weeks due to concerns over eurozone debts, a US double-dip recession and global growth fears generally.
IG, whose customers bet on which way markets, exchange rates and commodities will move, said business grew in June, July and August and is up again above normal levels in September.