IG Index falls back from highs

SPREAD betting at IG Index slowed significantly during October and November, having hit all-time records immediately after the terrorist attacks on the US.

Chairman Stuart Wheeler, who is one of the biggest financial backers of the Conservative Party, said in September that trading volumes and profits from June had been 'significantly ahead of the previous year'.

Today the group said: 'After a strong start to the half year, the growth in trading profit over the last two months was slower.' It said that pre-tax profits for the six months to end-November will be 'in the region of £8.3m' compared with £7.3m. That is below analysts' expectations of £8.4m to £9m with full-year profits pencilled in at about £20m.

The shares, floated at 240p in July 2000, today fell 61p, or 10%, to 558p.