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

John Wood Group

There’s a six-month trading update out from John Wood Group [LON:WG] which offers an interesting insight given the impact of both COVID-19 and the rampant volatility of oil prices. First half revenues are set to be down around 11% which the company points out is testament to their diversified service offering and also the resilience of the market. Market uncertainty is impacting forward sales but cost savings initiatives are being pursued to ensure that the business can bolster margins in the second half.

Staffline

Staffline [LON:STAF] has published a note this morning in response to the fact its share price has jumped over 60% this week. The company notes that it has no explanation for the move and it has successfully applied to delay its full year results filings as it needs more time to work through the implications of the COVID-19 crisis. Current expectations are that a small loss will be posted for the full year.


Oxford Biomedica

Oxford Biomedica [LON:OXB] announced a placing yesterday and perhaps unsurprisingly given the current appetite for both cash calls and the biotech sector in general, this was fully subscribed. Some £40m has been raised, equivalent to 6.5% of the issued share capital at a discount of 3.5% on last night’s closing price. There’s perhaps nothing to see here, other that the idea that there’s no shortage of investors looking for opportunities despite the uncertain economic backdrop.

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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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