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

Boohoo Group

High streets across the country may be headed for ruin, but Boohoo [LON:BOO] has this morning announced it has secured a long term lease on a new warehouse in Daventry. This added capacity will give the company the ability to deliver net sales across its four UK sites of some £4 billion a year. The deal is expected to secure 500 jobs and could create an additional 1000 jobs in the longer term as capacity increases.

Avon Rubber

There’s a half year trading update out from Avon Rubber [LON:AVON] and the mood remains upbeat. H1 revenues are expected to come in at $122m, against a 2020 figure of $87m, although $20m of that is off the back of acquisition news. Taking into account the current order book of $155m and expected sales for H2, the board is confident that it can achieve full year expectations.

Frasers Group

Ending the week with a bleak note from Frasers Group [LON:FRAS], which believes that further restrictions and lockdowns on the UK economy are inevitable, given the narrative that continues to emerge from the government over normality being “some way off” combined with the risk of a third wave of COVID. As a result, the company is bracing investors for the idea that it will make use of a series of non-cash impairments which could exceed £200m, double the £100m touted around six weeks ago.

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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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