Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Professional recruiters Robert Walters have published a Q1 trading update this morning, showing a solid start to the year. Notably, UK growth remains strong, up 10% despite the ongoing uncertainty that’s caused by Brexit. Other territories are performing well, too, headcount is up and the foot print continues to grow with three new offices having opened in existing markets. 72% of the company’s fee income is now derived from outside the UK.
Rio Tinto has announced a further $302 million investment into a copper mining project in Arizona. The company believes this one project alone has the ability to supply almost 25% of the total US demand for the metal, something which is continuing to rise as a key component in the production of electric vehicles. Internalising this supply clearly also has benefits when it comes to mitigating the risk of tariffs.
Construction and property services group Kier has this morning announced the arrival of its new CEO and the launch of a strategic review. The company struggled to complete a rights issue late last year with less than a 50% take up, but the new chief will now lead a strategic review, aimed at simplifying the business, reducing leverage and improving cash generation.