Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
DFS Furniture
Interims have been released by DFS Furniture LON:DFS this morning, covering the six months to December 29th. That makes for a rather awkward period, as it doesn’t offer much insight as to whether consumer confidence, bolstered by the decisive election victory, has had any effect. The absence of any nod towards this in the outlook, instead focusing on the fresh round of uncertainty caused by COVID19, could serve to unsettle investors. Interim dividends are being maintained at 3.7p, despite the near 50% collapse in EPS.
TP ICAP
Interdealer brokers TP ICAP LON:TCAP have full year results out today, with revenues up 4% and underlying profits up 1%. The company notes that the integration of the two businesses is now complete, so this has the potential to provide a good base for growth in the future, whilst recent market volatility will also have the potential to bolster volumes. The note does however caution as to the macroeconomic risks presented by COVID19, global growth and business beyond Brexit.
Standard Life Aberdeen
Full year results from Standard Life Aberdeen [LON:SLA] this morning are headlined by a 13% decline in fee revenue and whilst this was driven by net outflows over the period, it was towards the upper end of analyst forecasts. That has taken a 10% toll on profits, although dividends are being maintained in line with previous guidance. The company notes that the outlook for the whole industry is somewhat turbulent, given the complexities of COVID19, although the strong capital position may offer some reassurance.
