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

Associated British Foods

There’s a pre-close trading update out from Associated British Foods [LON:ABF] this morning. Q4 trading – which formally concludes at the end of the week – is well ahead of expectations both in food and Primark. Sugar is as expected delivering a much-improved profit year-on-year, whilst over the last 4 weeks, Primark’s UK stores have recorded their highest ever value and volume of sales for the time of year. COVID has taken a big toll here obviously however, so whilst the fashion arm expects to post adjusted profits at the top of the previously stated £300m-£350m range, that’s well below the £913m from last year.

Amigo Holdings

There’s an interesting note out from Amigo Holdings [LON:AMGO] this morning, playing down social media speculation that the company’s original founder – who quit the board in March 2020 – is plotting a return to the company. Apparently the plan is to buy up 29% of the business and reappoint himself as CEO. The regulatory filing points out the flaws in this plan, but this is a battle that could run for some time.

Kodal Minerals

Main board news is looking limited today, so a quick diversion off to AIM-listed Kodal Minerals [LON:KOD] who have published a multi-faceted note out this morning, with one point of specific interest being a comment in relation to the share price’s recent moves. The stock almost trebled in value last week and the business is hanging this off the signing of a recent MoU with a Chinese partner. The note is keen to caution that there can be no guarantees over where this arrangement will lead.

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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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