Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Full year results from easyJet have been published this morning and the headline figures look suitably impressive with growth across the board. A 43% increase in the dividend has been proposed too, suggesting that despite the turmoil faced by much of the airline sector right now, the low cost carrier is faring well. A hedging strategy is in place to protect from volatility in the oil market for the next 18 months and although crude prices may have slumped of late, there’s no shortage of speculation that a rebound could still be seen here.
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Clydesdale Yorkshire Bank
Clydesdale Yorkshire Bank Group – or CYBG – has this morning issued its results for the 12 months to the end of September, but the company has posted a loss as a result of increasing its provision for PPI mis-selling by £150 million. Underlying profits for the year have however risen to £331 million and the dividend has been increased to 3.1p.
Half year numbers from the white goods retailer AO World have been published today, showing revenue increases both in the UK and also its newer EU operation. The company has expanded into mobile phones, following the acquisition of online retailer Mobile Phones Direct although there are clearly still headwinds, with the first half loss per share having widened.