IG Group Holdings PLC

IG Group shares fell as much as 27.2% to their lowest level since April 2025 after the British online trading platform said it expected third-quarter revenue of about £240 million, down 14% from a year earlier, as it retained less revenue from customer trading losses in its over-the-counter derivatives business. The company said OTC revenue retention was about 70% in the quarter, below the roughly 80% average since it introduced changes to its market-making operations in the second half of 2025, and it cut its 2026 revenue growth outlook to a mid-single-digit percentage range year-on-year. Third-quarter net trading revenue is expected at about £210 million, down from £249.5 million a year earlier, with OTC net trading revenue falling about 18% to £155 million while OTC customer income rose about 8%. Customer activity remained strong, with organic first trades up more than 25% year-on-year and active customers rising about 17%, and the Underdog business more than doubled third-quarter net revenue to about $105 million ahead of the seasonally important fourth quarter. Chief Executive Breon Corcoran said growth in first trades and active customers remained strong in Q3 2026, while lower revenue reflected reduced OTC revenue retention in less supportive market conditions; IG also expects about £30 million of non-recurring costs in 2026 tied to moving its domicile to Jersey and restructuring, after recording £16.4 million of those costs in the first half, and excluding those and Underdog acquisition expenses it expects a 2026 EBITDA margin in the low-40% range.

UK stocks turned in a mixed performance Monday morning as investors made cautious moves despite easing geopolitical tensions and a sharp drop in oil prices. The FTSE 100 edged down 2.70 points, or 0.02%, to 10,865.35, while Brent crude futures tumbled nearly 5% before recovering to $83.60 a barrel. AstraZeneca dropped 5.2% on reports of merger talks with Bristol Myers Squibb, and IG Group Holdings fell 5.6%. The S&P Global UK Manufacturing PMI eased to a four-month low of 51.9 in July from 52.5 in June, though it remained above the 50 mark for a ninth straight month.

The FTSE 100 climbed to a fresh record high on Friday, led by gains in mining and financials sector stocks. The index advanced to 10,991.07, up 34.20 points or 0.31 percent at 10,931.47 nearly half an hour past noon. Natwest Group climbed 5.5 percent on strong second-quarter earnings, with profit attributable to ordinary shareholders rising 29.7 percent to 1.603 billion pounds. Among miners, Anglo American moved up 3.2 percent, while Antofagasta, Rio Tinto, and Glencore gained 2.2, 2.1, and 1.9 percent respectively. IG Group Holdings tanked nearly 11 percent after announcing a 1.3 billion dollar acquisition of U.S. fantasy sports operator Underdog and a pause in its share buyback programme.

European stocks fell sharply on Wednesday after the collapse of the Iran ceasefire renewed Middle East tensions and stoked inflation fears. The pan-European Stoxx 600 slumped 1.7 percent to 635.27, with Germany's DAX down 2.2 percent, France's CAC 40 off 2.1 percent, and the UK's FTSE 100 losing 1.5 percent. Oil prices and bond yields surged after President Trump declared the ceasefire over and Iran's Revolutionary Guards said they targeted US military sites in Bahrain and Kuwait. Energy stocks rallied, with BP up nearly 4 percent and Shell advancing 1.7 percent as Brent crude rose above $76 per barrel. In corporate news, Vistry plummeted 10 percent after warning of a first-half loss, while IG Group fell 3 percent on plans to establish a new holding company in Jersey.