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

Bellway

Bellway [LON:BWY] has published a trading update covering the 17 week period from August 1st. The company notes that the reservation rate is up 6% against the comparative and the liquidity position remains strong, although there are concerns over the state of access onto the housing market as prices continue to advance. The proposed dividend has been pared back by 50% from the payout received a year ago, but the company is hopeful that as earnings recover this can be increased quite quickly.

GlaxoSmithKline

GlaxoSmithKline [LON:GSK] have updated the market on progress for its COVID-19 vaccine and it looks underwhelming. The immune response amongst over 50’s was low so this means there’s a need to refine the concentration of antigens and will require further rounds of tests. As a result, the product isn’t expected to be available until Q4 2021 assuming the development plan is successful. This could serve to knock the wider market.


Rolls Royce

There’s a trading update out from Rolls Royce [LON:RR] this morning, which largely serves to underline the objectives which have been laid out previously. Cost savings are being delivered and the company still expects to turn cashflow positive in the second half of next year. Some signs of recovery are being seen in the power systems market, but data from aero engines may be cause of concern. Year to date, flying hours are down by 58%, but that reading is flattered by the fact impact in Q1 was limited. Q2 was down by 76% and Q3 down by 71%.

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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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