Broker TP ICAP half-year profit drops as market volatility eases

TP ICAP Group Plc, the world's largest inter-dealer broker, reported on Tuesday a lower half-year profit as trading in its global broking and energy and commodities businesses tailed off from the high comparable base marked by the pandemic.

The firm, which brings together buyers and sellers in the financial, energy, and commodity markets, said its adjusted pretax profit was 88 million pounds ($121.72 million) for the six months ended June 30, compared with 136 million pounds a year ago.

($1 = 0.7230 pounds)