Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Pendragon
There’s a trading update out from Pendragon this morning which is fairly light on detail but highlights the impact of regulatory change on the supply of new vehicles. In addition, it suggests that full year profits will be in the region of £50m, suggesting that the hopes of a better second half cited by the company in the summer might not be realised.
Funding Circle
Recently floated Funding Circle has published a Q3 trading update this morning. Loans under management are up 65% against the same period a year ago, whilst the projected yields are edging their way higher, helped by an expectation that bad debts will fall. Growth expectations remain unchanged.
London Stock Exchange
The London Stock Exchange has posted a Q3 trading statement this morning, showing more growth for the business, albeit at a measured rate. Capital Markets revenues are up a mere 2% but information services is performing rather better, up 17%. The company is also continuing with its outright acquisition of LCH Group, of which it now owns 80%, with full ownership expected by the end of Q4.
