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

#1. Marks and Spencer ups full year profit forecasts

There’s a trading update out from Marks and Spencer Group [LON:MKS] this morning covering the 19 weeks to August 14th. Total sales are up 4.4% on the corresponding figure from two years ago, although food is the key driver here. The company notes that whilst there may be an element of pent up demand driving the situation, structural change within the business should also continue to yield results in the longer term. There is uncertainty over the economic outlook, but full year profit forecasts are being upped and should now come in above the previously guided range of £300-£350m.

#2. Vertu Motors six month pre-tax profits expected to come in at no lower than £50m

Vertu Motors [LON:VTU] has a trading update out this morning, noting that – as with the wider industry – gross margins are being retained and pre-tax profits for the six months to August 31st are now expected to come in at no lower than £50m.  The company does however acknowledge that the UK-wide labour shortage and rising wages remain a risk for the outlook.

#3. Remote Monitored Systems enters partnership with Indian firm for antiviral face masks

Remote Monitored Systems [LON:RMS] has published an update this morning advising that it has entered into a partnership with an Indian firm for its Pro-Larva antiviral face masks. The technology is proven to kill COVID-19 and influenza viruses and this could provide some optimism for shareholders, who saw downside pressure earlier in the week after a statement from the business acknowledging that mask sales in the UK hadn’t taken off in quite the way that had been anticipated.

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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