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

Meggitt

Meggitt [LON:MGGT] has published a full year trading update today. Subject to audit the company expects to deliver results in line with the guidance issued last November, although group performance in the final quarter was below the stated base case owing to a slower than expected recovery in civil aerospace demand towards the end of the year. There’s some optimism of demand recovering now a vaccine roll out plan is underway, but the company acknowledges this will take time to feed through to its business.

Segro

Commercial property specialist Segro [LON:SGRO] have published a short note to update the market on its outstanding rent positions with customers. 98% of rent has been collected for calendar year 2020, whilst advance payments relating to the first quarter of 2021 are already 88% booked. That represents a higher collection level than was seen at the corresponding time in each of the last three quarters. Segro’s exposure to warehouse style operations had been seen as rather more robust than offices or retail outlets, given the nation’s increased reliance on distribution networks. These numbers seem to suggest that Segro’s clients are faring well through the ongoing crisis.


British American Tobacco

British American Tobacco [LON:BATS] has advised the market that the Serious Fraud Office has discontinued its investigations into the company. This was first announced in August 2017 and although the note provides no further detail, investors will likely be pleased that a line can now be drawn under the situation.

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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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