Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Kier Group
Kier Group has published a strategy update this morning following a review of its business. The company intends to focus on regional building, highways and infrastructure, selling a number of what are now deemed non-core units including the residential property developer, Kier Living. This sector has been highly profitable in recent years although recent attempts at consolidation have failed over questions about shareholder value. Seeing how this develops may hold clues about the longer-term future of the sector as a whole.
Babcock International
Babcock has this morning issued a note in response to weekend media speculation, dismissing the claim that Serco has made a second approach to buy the company, following its abortive attempt earlier in the year.
Wizz Air
Mondays can provide slim pickings in terms of news, so a quick throwback to an interesting note published on Friday by Wizz Air, the Central European low cost airline. The regulatory statement was issued simply to note that the company had the lowest CO2 emissions across all EU airlines, in what was presumably a tilt towards building awareness in the ESG sphere. It’s certainly a laudable announcement and one for which Wizz should take credit.
