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

Berkeley Group

There’s a trading update out from Berkeley Group [LON:BKG] this morning, covering November through to February. Expectations remain unchanged for full year profits to be comparable with the number posted for the previous period, although the value of reservations for the year is set to be around 20% lower. That’s due to a reprofiling of the timing on new developments but despite the current volatility the company remains committed to returning £280m per annum to shareholders, as it has done sine 2016.

Burberry Group

Burberry Group [LON:BRBY] has issued an unscheduled trading statement today, ahead of the financial year end on March 27th. A strong rebound since December means that the company now expects revenue and profits to both come in ahead of consensus expectations. Store sales for Q4 are set to be 28%-32% higher than last year, whilst full year revenues will be off between 10% and 11%. Preliminary results will be out on 13th May.

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Begbies Traynor

There’s news of a series of cap raises this morning and one that caught the eye was from the insolvency specialists Begbies Traynor [LON:BEG]. The company has been making acquisitions and regardless of the strength of any economic recovery should be poised to benefit from the unwinding of government support packages. Whilst these are keeping some sound companies trading through the COVID-19 pandemic, it’s also hampering the natural cycle of business failures. Pent up demand is likely to see numbers spike here, but that’s unlikely to be before the Autumn. The offer was significantly over-subscribed and shares sold at a modest premium to last night’s closing price.

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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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