CMC Markets launches new trading platform -- Lord Cruddas silent on Liz Truss
BORIS Johnson fan and Tory party donor Peter Cruddas was tight-lipped today on new PM Liz Truss.
He declined to discuss the matter as his CMC Markets said it expects half year profits to be up 21% to £153 million.
Trading improved in August and September CMC also today launched a new investment platform – CMC Invest – which aims to compete with AJ Bell and Hargreaves Lansdown.
Cruddas made his fortune by offering riskier leveraged bets and was once perhaps the richest man in the City.
Baron Cruddas donated £500,000 to the Conservative Party last summer just days after he joined the House of Lords.
He was open about wanting Boris to stay as PM and is said to remain concerned at the power of the 1922 Committee of back bench MPs that led to his defeat.
CMC shares today rose 12p to 234p.
Cruddas said: "We closed the first six months with a pickup in market volatility and client trading volumes driving an improvement in operating income versus last year. As part of our diversification strategy, we are pleased to have launched our new UK non-leveraged business, CMC Invest. This move into self-directed investing marks a significant milestone for us, representing a major opportunity for growth and diversification into the non-leveraged market.”
