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

Hays

Despite a weakening global macroeconomic backdrop, recruiter Hays [LON:HAS] has this morning published a solid set of full year results. Fee income is up 5% and pre-tax profits are also 3% higher. Exceptional items have taken the edge off, but investors are being rewarded with a 3.97p dividend plus a 5.43p special dividend payment. Looking forward, the risk from here seems to be the combination of tough comparatives and a slowing global economy.

McColls Retail Group

There’s a Q3 update out from high street convenience retailer McColls [LON:MCLS] this morning, which once again lays bare the challenges facing the UK retail sector. Like for like sales have dropped 2.2% for the quarter and this marks a significant change in pace from the interims released just over a month ago which appeared to show the company stabilising after an uncertain 2018. The market may be unwilling to look positively on this news.

Micro Focus International

What amounts to a profit warning from Micro Focus International [LON:MCRS] has been released today in a trading update covering the full year period to end of October. The company notes that a deteriorating macroeconomic environment means they don’t expect to meet with guidance – which was already stated as a 4% to 6% decline in income – and instead will now be eyeing a 6% to 8% drop. The company is responding by accelerating a strategic review of the business in order to improve shareholder value.

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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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