May 22, 2019 / 10:11 AM / 9 months ago

BUZZ-IG Group: Confidence on turnaround plan, busy May trading boost shares

(Adds analyst and trader comments)

** IG Group shares soar 13% and are on track for their best one-day performance in nearly 2 yrs

** A trader says there is increased confidence on their turnaround plan

** Stock also encouraged by co’s comment that the first three weeks of May have been more favourable after low levels of financial market volatility until April

** IG plans to ramp up investment to meet its medium-term goals and identifies Hong Kong as a potential opportunity in the leveraged securities market for retail clients

** Liberum analyst Ben Williams says it’s quite a big gamble from June Felix, who was named IG’s first female CEO in October

** IG forecasts a 30 million pounds ($38 million) rise in operating expenses for fiscal year 2020

** “Confident that the company will return to growth after FY19” - CEO

** IG peer Plus500 jumps 6% (Reporting by Sangameswaran S and Thyagaraju Adinarayan)

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