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Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. AG Barr announces 60% acquisition of MOMA

News of an interesting play by AG Barr [LON:BAG] this morning, the company best known for its Irn Bru brand. They have announced a 60% acquisition of MOMA, a challenger brand in the porridge market and also the UK’s third largest oat milk brand. Whilst the move isn’t expected to have a material impact on group profits this year, the play into the fast growth, plant-based market is one which arguably hints at great ambition in the business.

#2. Guild Esports signs top 3 ranking player

Guild Esports [LON:GILD] has today announced the signing of a player who since 2018 has consistently ranked as a top-three FIFA player worldwide. Despite posturing to the contrary and the growth of listed companies in the space, it seems that e-Sports still lacks the cachet of the underlying product, although interestingly the signing will be moving from his home in Argentina to London in order to compete from Europe. As is typical, no indication of the value of the deal is made, but lifetime earnings so far total $290k.

#3. 88 Energy Merlin 2 well on track for February drilling

There’s an update from 88 Energy [LON:88E] on its Merlin 2 well in Alaska, noting that the company remains on track to start its drilling process in February. Shareholders are likely to be relieved by news that a key contractor is willing to accept payment for up to $7.5m worth of work in new equity, showing commitment to the longer term project and also mitigating the need for a funding round.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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