Search high and low but you won't find much self-doubt in Icap's results. The financial world may have been convulsed by the credit crisis, but the interdealer broker sees nothing but opportunities.

The regulatory threat, the macro outlook (with the ominous reference to huge trade and financial imbalances), the retrenchment in banking: all are grist to the Icap mill. Shareholders will note the company backs up its confidence with hard cash, as the dividend rises a welcome 9 per cent.