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Three Quick Facts: Barclays, Hastings Group and ITM Power

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

Barclays

Barclays [LON:BARC] has published its Q3 results this morning, showing pre-tax profits of £4.9 billion for the year to date, down from £5.3 billion . However as was seen earlier in the week from peer RBS, the impact of late PPI claims has taken a toll. The bank was left to put £1.4 billion aside here over the last nine months, up from £400m for the same period last year.

Hastings Group

Insurers Hastings [LON:HSTG] have published a Q3 update today, too. Gross premiums are up by 2% but premium inflation is lagging that of claims. There has been a 5% increase in the number of policies written and share of the UK private car insurance market is up by 0.3% so this all looks meaningful enough, although any changes mandated by the FCA in terms of insurance pricing practices will need to be scrutinised when they arrive.

ITM Power

A note from small cap ITM [LON:ITM], who have today announced the opening of a hydrogen fuelling station at the Shell services, Gatwick airport. The hydrogen is produced on-site from renewable energy and water, so there’s no need for deliveries. And unlike battery recharging, hydrogen fuelling can be completed in a matter of minutes. This is the company’s 8th such refuelling point in the country – there’s still a long way to go, but it’s a concept that seems worth noting.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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