Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a Q3 trading statement out from Next this morning, with full price sales for the three months to end of September being 2% ahead of the figure a year ago. Physical retail continues to lose ground to online and warm weather last month also appears to have taken a toll. However the numbers are slightly ahead of guidance and the full year picture is being maintained with a profit target of £725m still being seen.
De la Rue
There’s a short profit warning out from secure printers De la Rue today. Detail is scant but the company notes that profits for the first half of the year will be low to mid-single digit millions and the full year picture will be well below expectations. The share price, which is languishing around 16 year lows, may find itself under fresh pressure at the open.
Standard Chartered has published its Q3 trading update showing the bank continuing to make progress, although the note highlights growing headwinds from a combination of rising geopolitical tensions and a slowing global economy. Underlying profits for the period are however up by 16% and the return on tangible equity is up 160 basis points to 8.9% with 10% being targeted for 2021.