Summary
Ashtead clinches $1 billion buy of US rival NationsRent Market turbulence puts Icap on target for Pounds 250m-plus profits PROFITS are set to soar by 25% at Michael Spencer's Icap broking empire. The broker said today it is on track to make profits in excess of Pounds 250 million this year as volatile markets keep City brokers as busy as they have ever been.
"Icap has benefited from recent market turbulence," said Spencer, reckoned to be among Britain's richest people with a fortune worth more than Pounds 600 million. "In particular, emerging markets and foreign exchange benefited from very volatile conditions and equity derivatives were especially active.See the full content of this document
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In Brief
Interest rate swaps in most markets were busier than they have been for some time." B...
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