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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

Greene King

There’s an 18 week trading update from pub operators Greene King this morning, noting that it’s been a good summer – thanks to hot weather and England’s successful run in the World Cup – allowing sales for the group to outperform the wider industry. The focus on cost reduction does however remain very much in focus – the company remains on course to shut as many as 110 pubs this year, whilst only opening around nine new venues.

Playtech

Playtech, the world’s largest supplier of sports betting and online gaming technology, has this morning announced the disposal of its near 10% holding in Plus 500. The statement says that the money – around £176 million – will be used for general corporate purposes and debt reduction. Clues as to what has actually triggered the decision to sell are rather lacking, but the news comes hot on the heels of the announcement that Plus 500 founders sold some 7.7% of the company’s stock during yesterday’s session.

Ashmore Group

Full year results from the Emerging Markets asset manager Ashmore out today. They’re reporting strong net inflows, and the fact that an impressive 94% of assets under management are outperforming benchmarks over the three year period. Whilst underlying markets have been charging ahead of late, it’s worth bearing in mind that this news comes against a backdrop of volatile equity valuations.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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