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

Beazley

Insurers Beazley [LON:BEZ] have issued a trading statement this morning, covering the nine months to 30th September. Gross written premiums for the period are up 16%, putting them ahead of expectations. The company also notes that strong growth has been seen in the ‘cyber & executive risk’ categories, whilst the rates it can charge are increasing across the board, meaning the risk/reward ratio ‘warrants writing materially more business’. H1 claims estimates for COVID-19 are unchanged from past estimates and the FCA judgement over business interruption wording isn’t expected to have any material impact.

easyJet

There’s news from easyJet [LON:EZJ] of a further sale and lease back of aircraft this morning. The move sees the low cost airline mortgage 11 of its planes, freeing up around £130m in fresh liquidity. Whilst this is a sensible move to free up cash, the wiggle room is disappearing for the airline which last month made a similar move with 9 aircraft. Working from the numbers in the October announcement, that means that just over 40% of the fleet is now unencumbered.


Premier Foods

A quick note from Premier Foods [LON:PFD] advises the market that the company has now agreed to dispose of its 49% holding in Hovis, with proceeds of £37m resulting. There are no details mentioned as to how the money will be used.

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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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