Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a trading statement out from Imperial Brands [LON:IMB] this morning, which notes that the business has performed well despite the uncertain environment caused by COVID. Consumers have apparently allocated more of their spend on tobacco during the lockdown, which has in turn helped drive volumes. As a result, group revenue is now slightly ahead of guidance provided at the half year point.
Sports betting group GVC [LON:GVC] has provided the market with a Q3 update covering the period to September 30th. The company saw continued momentum from growth earlier in the year and as a result has now upgraded expectations for the full year. Management note that this is the nineteenth consecutive quarter of double-digit growth and the roll out of gambling products in the USA has the potential to fuel further growth in the future.
easyJet [LON:EZJ] has published a full year trading update today. The aviation industry globally has been decimated by the COVID pandemic and this is no exception. For the first time, easyJet will post a full year loss, but aggressive cash conservation means that losses in Q4 will be lower than the Q3 figure. With no end to the pandemic in sight and travel restrictions changing regularly, passengers are booking with very short notice. As a result, the company has little visibility over the outlook but notes that it has already raised £2.4bn since the start of the crisis and will review its liquidity position on a regular basis.
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