Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Monday’s usual slim pickings, but Diageo has issued a statement announcing that it is to dispose of some 19 brands to Sazerac, in a move which will return £340 million to shareholders after taxes and transaction costs have been taken into account. This will be completed by way of share buybacks although it appears that the brands involved – names like Popov or Black Haus – won’t be all that familiar to UK-based imbibers.
There’s a trading update out from Playtech, the world’s largest supplier of online gaming and sports betting software, this morning. Performance remains consistent and the company believes it’s on target to meet previous guidance for the full year. The update is relatively light on detail, although one weakness is flagged in the financial division where market movements favoured customers, particularly in September and October.
There’s a Q3 update from funeral services provider Dignity out this morning. The company has delivered a few market shocks of late, with the proposed impact of pricing changes initially failing to impress investors. However a little more clarity has emerged in this set of numbers and the revenue impact from the price changes doesn’t seem to be as marked as the company first predicted.