Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Polymetal update paints BAU picture
Polymetal International LON:POLY, the Russian mining company which found itself defenestrated from the FTSE-100 at the last reshuffle has published a business update and impact of sanctions note this morning. The underlying theme appears to be very much BAU, some early stage projects are being delayed or pulled altogether to conserve cash and presumably management will be hoping that the information will help the stock lock in recent gains. Shares have advanced almost four fold since those early March lows but continue to trade at a third of pre-invasion levels.
#2. Rising energy prices and climate concerns bode well for Inspired
AIM-listed Inspired LON:INSE, a tech provider focused on helping clients reduce energy consumption, has this morning issued full year results. Revenues are up 47%, gross profits advanced by 30% and the order book has grown by 7%. Clearly this is a topical stock both on the eco agenda and also as businesses look to drive down spiralling energy costs, but given the quest to get to net zero will take many years, could also have long term potential. Dividends are being increased by 14% and the company notes strong momentum as the new year gets underway.
#3. Gfinity fundraises in bid for 2023 profitability
Again sticking with AIM, the world-leading esports provider, Gfinity LON:GFIN has issued half year numbers today. Revenues are up, losses have fallen and admin expenses are down by a whisker, too. Some additional funding has already been secured and a further vote will take place at Friday’s General Meeting, which if confirmed would – the business say – provide the runway necessary to achieve monthly profitability by 2023. Macro headwinds have taken a toll here however and whilst this sector may be transformational in the future, the market may still need a little time to wake up to this reality.
