Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a solid trading update from Metrobank out this morning, including a preview of the full year results. They’re still subject to audit, but the pre-tax profit it tipped to jump 138% to £50 million, whilst the loan to deposit ratio is moving up from 82% to 91%. However with earnings per share of just 40p, that’s coming in well below consensus analyst expectations.
Investment platform AJ Bell has published its maiden quarterly trading update this morning, showing inflows up 20% on the same period a year ago although falling underlying equity markets have hit overall assets under administration. The numbers are in line with what the company laid out before its IPO and the statement adds that an FCA review into the platform market is likely to see a favourable outcome for them.
Third quarter numbers from Burberry have been published this morning as the company continues its repositioning exercise. Demand is picking up in China once again, although sales in the US are struggling from reduced footfall. Full year guidance has been maintained, along with an expectation that the previous commitment to save £100m of costs can still be met.