News article

Icap and Johnson Matthey shares rise on strong results

Icap and Johnson Matthey shares rise on strong results
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Stock market trading is often influenced by the performance of the companies floated on trading platforms and Icap and Johnson Matthey are a good example of how strong sales can translate into a strong investment.

Shares in interdealer broker Icap jumped 7.2 per cent by 15:19 GMT in London today (February 1st) after releasing positive forecasts for its financial results.

The company said it expects to see pre-tax profits for the year to March 31st 2012 to reach the upper-end of analysts' range of £336 million and £358 million.

Chemicals firm Johnson Matthey reported a 29 per cent increase in revenue to £5.9 billion in the half year to September 30th last year compared with the same period in 2010.

Meanwhile, like-for-like profit before tax jumped 35 per cent and sales except precious metals were up 17 per cent to nearly £2 billion and £1.3 billion respectively.

Shares in Johnson Matthey were up by 4.6 per cent.

Posted by Greg SeckerADNFCR-1681-ID-801281213-ADNFCR