Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. National Grid continues to perform in line with expectations
There’s a short, pre-close update out from National Grid [LON:NG] ahead of their half year results which are scheduled for release on 18th November. There are some structural updates details as a result of acquisition and disposal activity and the company continues to perform in line with expectations. Arguably it’s well-insulated from the turmoil facing the energy market right now, but the company notes that EPS is likely to see a marginally greater weighting in the first half compared to prior years.
#2. Takeover panel extend National Express and Stagecoach merger decision
The idea of a merger between National Express LON:NEX and Stagecoach [LON:SGC] remains on the agenda, but the two companies have now been given an extension by the takeover panel as to when such a decision needs to be made by. An update this morning notes that the deadline has now been pushed back to 16th November, although there’s no certainty that a formal offer will be made.
#3. Belluscura signs fifth distribution agreement
Belluscura LON:BELL is a company we’ve looked at before, both for its innovative work in portable oxygen concentrators and the fact that Tek Capital LON:TEK has a disproportionately high stake in the business. Belluscura has this morning announced that it has signed its fifth distribution agreement in as many months, with the collective coverage of these deals now stretching right across the country. Overseas interest is also building and updates on delivery forecasts are promised soon.
