Plus500 Continues First Quarter Momentum into Q2 2020

London-listed broker Plus500 has announced this Tuesday that it continues to see a significantly increased level of customer trading activity in a trading update published through the London Stock Exchange (LSE) news service.

Following on from the company’s previous trading update earlier in the month, Plus500 has continued to see heightened levels of market Volatility , driven by the coronavirus pandemic, which has resulted in the increased trading activity.

“Performance across all financial and operational KPIs remains very strong, with the Group continuing to attract significant numbers of new customers at an attractive cost, and increased levels of activity from existing customers,” the company said today in the statement.

Furthermore, the Israel based broker said that following the strong performance achieved in the first quarter of 2020, it is seeing continuing momentum in the second quarter, with strong gains from customer trading performance, which is expected to be neutral over time.

“Notwithstanding the uncertainty regarding the duration of current levels of volatility or the unquantified potential impact from regulatory changes in Australia, revenue and profitability for the full year is expected to be substantially ahead of current consensus expectations, as revised following the Q1 trading update on 7 April,” Plus500 said.

Plus500 continues buyback program

This Tuesday the Online Trading provider has also announced via a filing that it has purchased a further 16,280 of its own ordinary shares as part of its buyback program announced back in February.

The volume-weighted average price paid per share was £12.33. Therefore, the company paid around £200,732.4 for the latest round of shares. Overall, the lowest paid price per share was £12.39 and the highest price paid was £12.34.

Since Finance Magnates last reported, Plus500 shares have returned to travelling in an upward direction. As at the time of publishing, the company’s share price is 1,283.50 GBX.

Plus500 continues buyback program

This Tuesday the Online Trading provider has also announced via a filing that it has purchased a further 16,280 of its own ordinary shares as part of its buyback program announced back in February.

Since Finance Magnates last reported, Plus500 shares have returned to travelling in an upward direction. As at the time of publishing, the company’s share price is 1,283.50 GBX.