CMC Markets PLC set to benefit from volatility
CMC Markets and Ferrexpo are both set to release updates, although Ferrexpo, which operates in central Ukraine, would be forgiven for crying
Friday’s trading update from CMC Markets PLC (LSE:CMCX) will vie for attention with an expected statement from Ferrexpo PLC (LSE:FXPO).
The first provides an update on trading in 2022 in the context of its share buyback program.
Shares of the trading platform operator have finally started to recover from last September’s disappointing update after the company said in late January that its leveraged and non-leveraged platforms would continue to perform well. in 2022.
Both platforms were operating at “near-record levels”, according to chief financial officer Euan Marshall.
CMC said it was still confident of achieving net operating profit within its guidance range of £250-280 million for the year to March 31.
Trading platform operators love volatility and with recent events there has been a lot of volatility, so shareholders are hopeful that the company has finished its fiscal year well.
A first quarter trading update is expected from Ferrexpo PLC (LSE:FXPO) but given the situation in Ukraine, the statement may not materialize.
The iron ore pellet producer operates in central Ukraine and has previously said it is struggling to compile its results due to disruption caused by its neighbor’s Russian invasion.
“We will maintain our current focus of protecting our workforce and local communities, while continuing to contribute to Ukraine’s economy through our production of iron ore pellets. We will seek to publish our accounts as soon as the situation in Ukraine allows us to do so,” said Jim North, the company’s CEO, last month.
If the company releases production figures, the focus will obviously be on how much of the Swiss company’s planned production was impacted by Russia’s invasion of Ukraine.
Important announcements expected
Commercial announcements: CMC Markets PLC (LSE:CMCX), Ferrexpo PLC (LSE:FXPO)
AGM: Leeds Building Society, Rio Tinto PLC (LSE: RIO)
Economic data: Inventories of wholesalers (United States)