Three things you need to know in the financial markets this morning from investment writer, Tony Cross
We have a third quarter update out from Barclays this morning and although profits jumped by 23%, once fines for mis selling were taken into account, the picture looked a little less upbeat. Profits for the last three months came in at £3.1 billion, with a £1.4 billion settlement to US regulators appearing on the books, although this was expected so the impact on shares at the open may well be muted.
Half year numbers have been posted from transport company Eddie Stobart this morning and they don’t make for great reading. Revenues may be up by over 20% but the company has again posted a loss. Shareholders have done well out of the period however, with over £31 million having been paid out in dividends.
There’s a production update out from Antofagasta this morning which paints a rather mixed picture. Whilst the year to date figures are disappointing, the company has managed to significantly increase output on a quarterly basis across all its reported categories. Further production gains are expected in the fourth quarter so this may help draw a line under the lacklustre performance of the share price which has been seen since the summer, although if we are heading into a global economic slump, metals prices may well flounder as a result.