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

Spire Healthcare

Spire Healthcare [LON:SPI] has this morning reported the extension of a deal with private medical insurer BUPA. A contract between the two parties, which accounts for almost half of all Spire’s revenues, will be extended to March 2022. Pricing has also been agreed although the share price has a long way to go if it hopes to return to the heights of three years ago.

Ocado and Marks & Spencer

The deal between Ocado [LON:OCDO] and Marks & Spencer [LON:MKS], which was announced earlier in the year, has been cemented today. It has been confirmed that 50% of Ocado Retail Limited has been sold to M&S although the former won’t be selling the latter’s goods for another year, owing to current commitments with Waitrose. By many accounts this could be seen as better news for M&S as it offers them space on a full service grocery platform which will be selling popular branded goods, Ocado own brand products as well as 6500 M&S food lines.

HSBC

The day’s big corporate news is arguably interim results from HSBC [LON:HSBA]. In what is seen as a surprise move, the CEO has been tipped out after just 18 months at the helm, in a bid to accelerate growth. Shares are already down in Asian markets as a result of the news, with investors focusing on this rather than the 16% increase in pre-tax profits or news of the share buy-back program being sustained.

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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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