Sep 2, 2021

CMC Markets hit by lower market volatility

CMC Markets has warned that lower market volatility has been taking its toll on earnings. CMC said to expect net operating income of between £250m and £280m for the full year ending March. Housebuilder Barratt Developments said recent sales have remained strong even after the withdrawal of tax breaks for buyers, with net private reservations per average week of 277 compared with 314 per week in the financial year ended June. EnQuest, the North Sea oil company, said it expects annual production to be at the lower end of its target range of between 46,000 and 52,000 barrels of oil equivalent per day. Public market investors have been cynical about the tech pioneer, leaving it at a competitive disadvantage, so maybe a retreat to private ownership is the best solution.

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