Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. NatWest Group Q3 profits well ahead of expectations
Bumper Q3 numbers from another bank this morning with NatWest Group LON:NWG updating the market. Profits have come in more than 50% ahead of analyst expectations, even after taking account of a close on £300m litigation and conduct charge, which it picked up after a money laundering incident. Like others, bad debt provisions have been revised lower resulting in a net impairment release of £242m for the period and the bank reports a RoTE of 8.5%.
#2. Computacenter on track to deliver record revenues
There is a Q3 update out from Computacenter LON:CCC today, showing the company is currently trading marginally above expectations, leaving it on track to deliver record revenues, profits and EPS for the full year to 31st December. The company notes that product supply shortages aren’t as severe as some had predicted, although it is constraining performance marginally. Without such limitations the situation would have been even stronger.
#3. Cranswick gets carbon neutral certification for all UK manufacturing sites
On the eve of COP 26, an interesting note from Cranswick LON:CWK. Meat production is seen as an easy target when it comes to how we could reduce the impact we have on the climate, but the company has now received carbon neutral certification for all 14 of its eligible UK manufacturing sites. There’s still more to be done, but Cranswick notes it has committed to buying 100% deforestation-free soya feed and is looking to achieve net zero greenhouse gas emissions across its whole operation by 2040.
