Three things you need to know in the financial markets this morning from investment writer, Tony Cross
easyJet
There’s a trading update out from easyJet this morning and despite the ongoing impact of strike action across Europe plus air traffic restrictions taking a toll on performance, the company now expects profits to be in the upper half of previous guidance.
That’s thanks to better than expected passenger growth so even the fact costs are rising shouldn’t have a negative impact on the full year numbers.
United Utilities
United Utilities has also posted a trading statement this morning. As with all the water companies, the regulator plays a significant role in determining the financial performance so thanks to allowed revenue changes, the expectation is that group revenue will be ahead of the same period last year.
Trading is in line with group expectations and it would appear there’s nothing in the note that seems likely to rock sentimemt.
Funding Circle
Shares in Funding Circle will start trading today and the offer price has been conformed as 440p. That gives he company a valuation in the region of £1.5 billion and very much validates the idea that this is a ‘unicorn’ – a tech startup worth in excess of one billion.
That’s a similar valuation to businesses like Virgin Money or Greene King.
