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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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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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