Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Just Eat Takeaway.com sees continued strong demand
Just Eat Takeaway.com [LON:JET] has published an update covering the first six months of the year and demand clearly remains strong despite hospitality venues reopening. Revenues rose 52% and whilst this still left the company nursing a loss even on an EBITDA basis, brighter times are seen ahead as various headwinds ease. That seems like it could be a big call and is also reliant on demand being sustained as consumers find other calls for their cash. Average spend per order also fell by around 3%, so the market reaction here will be worth watching.
#2. Argo Blockchain hits carbon neutral milestone
An interesting note out from Argo Blockchain LON:ARB this morning who have reported they are the first publicly traded cryptocurrency mining company to report becoming “climate positive” – that is addressing its own greenhouse gas emissions to become carbon neutral and also mitigating emissions through the support of projects outside of Argo. Whilst this is an admirable move that could heighten the company’s appeal to the growing number of investors focused on ESG, the question has to be how this stands against the wider blockchain mining sector which remains a significant consumer of energy.
#3. Pineapple Power suspends shares as acquisition target found
It’s a fairly quiet morning, so rounding off we have news from Pineapple Power LON:PNPL that the company has found an acquisition target in Dublin-based BVP Investments, which focuses on green tech firms addressing issues of sustainability and the wider environment. The move sees Pineapple Power having requested – and been granted – the suspension of its shares from the market and notes that it will subsequently apply for admission of the enlarged entity, named Cool Capital, onto AIM should the transaction complete.
