Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Associated British Foods
There’s a lengthy pre-close trading update from Associated British Foods this morning, the company behind everything from Twinings Tea to Primark. As a headline, sentiment is upbeat – falling sugar prices will take a toll on profits, but this is set to be more than offset by better performance at Primark, plus in the grocery, agriculture and ingredients divisions. Favourable interest rate movements are also set to lower borrowing costs.
Hot on the heels of William Hill’s move into the US last week, 888 Holdings has this morning announced that it has launched operations in New Jersey. This isn’t the company’s first foray into the US, but New Jersey is the largest regulated state for 888’s products in the US.
One from the weekend, but Debenhams has called in accountants KPMG to assess all its options regarding its ongoing operations. The company has issued three profit warnings so far this year and lost two thirds of its share price value. Debenhams, which employs more than 20,000 people across 240 stores in 27 countries, continues to look at a precarious future.