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Fiske sees mixed Covid-19 impact; confident it can weather storm

Wed, 8th Apr 2020

Stock broker Fiske said its trading performance since it delivered an update in February had been in line with its expectations. Commission revenue for March had risen on-year due to higher than usual market volumes caused by enhanced volatility in markets. However, asset values and subsequent fee revenue have fallen as a result of general market weakness. Trading volumes in the month to date had returned to levels consistent with prior years. 'Unsurprisingly there is significant macro-economic uncertainty given the Covid-19 outbreak and the ongoing impact of this on levels of trading and on equity and fixed income markets which cannot be quantified at present,' Fiske said. 'However our systems are working effectively and it is expected that the firm will be able to continue to provide a full service offering for clients throughout the lockdown period.' 'Although the longer-term economic impact is hard to predict, we remain confident that the company is well positioned to weather the storm and to continue to service our clients to the highest standard.' At 1:39pm: (LON:FKE) Fiske PLC share price was 0p at 60p Story provided by StockMarketWire.com

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