CMC Markets Shares Plunge as Firm Downgrades Revenue Forecast

[kreslik.news]

CMC Markets Plc, one of the big players in the retail trading space, has downgraded its outlook for fiscal 2019. The company’s revenues from contracts-for-difference (CFD) and spread betting are now expected to drop by 20% year-on-year.

The company shared the news in the firm’s pre-close trading update today. After a solid first quarter, the firm saw a decline in key metrics. According to CMC Markets, seasonal low market volatility in the summer and the new regulation from the European Securities and Markets Authority (ESMA) have impacted the company’s bottom line more materially than expected.

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