Plus500 climbs as coronavirus panic sends traders into frenzy

AIM-listed derivatives group Plus500 Ltd’s (LON:PLUS) trading has ticked up strongly since the New Year on the back of increased activity in global markets.

“The group’s financial performance during the first quarter to date is consequently trending substantially ahead of the last quarter of 2019,” said the CFD specialist. 

Companies such as Plus500 thrive on financial market volatility and the recent slump in stock markets due to the coronavirus will likely boost trading even more. though it did not specifically mention the current panic.

“It is too early to say what impact this outperformance in the current quarter will have on the outcome for 2020 given heightened levels of volatility in the market may not persist, whilst the impact of Australian regulatory changes previously referred to is yet to be quantified,” said the statement.

Shares rose 5% to 912p.