European equities have opened lower on Wednesday despite a positive Tuesday which saw markets bet on a less hawkish Fed. The FTSE 100 has opened 0.28% lower on Wednesday morning.
IG Group announced its third quarter revenue update on Wednesday. The group stated it delivered a good revenue performance in a quieter period of market activity, with strong growth from its high potential markets.
- Year-to-date total revenue increased 5% to £758.4m.
- Core markets+ revenue was down 2% to £606.9m due to OTC active clients and revenue per client being down versus the prior year.
- Its high potential markets revenue jumped 50% to £151.5m.
- Active client numbers for Q3 was at 335,400, down 5% on the prior year.
Trainline provided an update on its trading performance for FY23. Jody Ford, CEO said: “Trainline delivered record net ticket sales, with growth led by International Consumer, which became a €1 billion business for the first time.”
- Group revenue was up 74% year-on-year to £327m.
- Group net ticket sales of £4.3bn were up 72% on last year.
- Adjusted EBITDA is expected to be in line with market expectations.
Prudential reported a resilient performance in its FY22 results on Wednesday. Anil Wadhwani, CEO stated: “2022 was the first full year for the Group as an Asia and Africa focused business. We have delivered a resilient performance against a backdrop of Covid-19-related disruption and broader macroeconomic volatility.”
- APE sales up 9% to $4.4bn.
- New business profit fell 11% to $2.2bn with the impact of higher volumes being offset y higher rates.
- Adjusted operating profit increased 8% to $3.4bn.
- The firm also announced a second interim dividend of 13.04 cents per share and 18.78 cents per share for the full year.