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

MJ Gleeson

There has been an abrupt departure of the CEO at MJ Gleeson announced this morning. Full year results are reiterated as being in line with expectations, but citing issues with remuneration and succession planning, the market may well take a dim view of the speed at which this move has been made.

John Menzies

Menzies Aviation has been awarded a new long term ground handling contract for easyJet at Luton Airport. Details over duration and value are absent from the statement, but the news should arguably provide some reassurance for shareholders over a steady income stream. Understanding the operating margin would however be rather more insightful.

Ferguson

Ferguson, the company behind many brands supplying the building trade such as Wolseley, has announced quarterly results this morning. Revenues are up 6.2% whilst profits have risen by 2.3%. Gross margins are however improving too, although the company does note that in its Canadian operation, a slowing residential property market is having an effect. The outlook is in line with expectations, but the company is at risk of a broader slowdown in house building should the global economy stumble.

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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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