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Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. Reckitt Benckiser margin guidance remains unchanged

Foreign currency headwinds took a toll on Reckitt Benckiser [LON:RKT] who this morning reported Q3 results. Like for like sales were up 3.3% but on a reported basis fell almost 7%. The company is targeting mid-single digit revenue growth but notes that for the current FY this is likely to be in the 1%-3% range. However despite widely reported cost pressures, pricing and productivity gains mean that margin guidance remains unchanged.

#2. Whitbread recovery is comprehensively outperforming the market

Interim results are out from Whitbread [LON:WTB] this morning covering the six months to 26th August, noting that the company’s recovery is comprehensively outperforming the market with UK sales 12.3% ahead of the sector over the period. Comparing against the pre-pandemic performance, the company’s bounce back is again illustrated well, including highlights such as UK August 2021 sales advancing 10.5% from the 2019 figure. A strong balance sheet leaves Whitbread in a strong position and there’s confidence that supply chain and labour woes can be navigated, too.

#3. 88 Energy drilling in Alaska to start in February

Over to the AIM market where 88 Energy [LON:88E] has come out with an update over its work in Alaska. This relates to drilling which won’t take place until February next year. The stock often reacts in quite a marked fashion to news updates, even if any gains may lack longevity at times. If this medium-term news is sufficient to excite investors, this will likely be picked up in our end of day junior market roundup.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

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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