British broker ICAP reports slight fall in revenues

LONDON (Reuters) - British broker ICAP said on Wednesday its half-year revenue fell 1 percent, slightly behind analyst expectations, as lower volumes in euro markets offset increased volatility in U.S. interest rates.

The world's largest interdealer broker reported revenue for the six months to end September of 736 million pounds, compared to 746 million pounds a year earlier.

Analysts had expected first half revenue of 742.5 million pounds, according to Thomson Reuters data.

ICAP, which like rival Tullett Prebon makes money by matching buyers and sellers of bonds, currencies and swaps, said pretax profits came in at 139 million pounds, up 1 percent percent from the first half of 2012.

Shares in the FTSE 250 company <.FTMC>, which have risen more than 20 percent since the beginning of the year, closed at 376.3 pence on Tuesday.

(Reporting by Tommy Wilkes and Clare Hutchison, editing by Sinead Cruise)