Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Interim numbers from transport operator Stagecoach [LON:SGC] are out today, showing a marked decline in revenues when compared to the same six month period last year. This has been driven by the loss of two key rail franchises, plus a weaker performance in the company’s bus division. With another rail service having been terminated at the start of this week, headline figures for the business will continue to ease in the near term. The dividend is being maintained but a senior management reshuffle has also been announced. With the company having been blocked from applying for further rail franchises, the big question is whether further innovation can now be seen.
There’s a new CEO heading to SAGA Group [LON:SAGA], with the appointment of Euan Sutherland being announced this morning. This completes a recent overhaul of the top of the management team and many investors will be hoping that brighter times lie ahead for the over 50’s lifestyle brand.
The battle for Just Eat [LON:JE] shows no sign of relenting, with Takeaway.com having posted a correction to what it says are misleading claims from another suitor, Prosus. The detailed takedown of what’s wrong with the Prosus offer is worth a read, but this battle shows little sign of being won yet. Just Eat’s share price could however find further support as the contest rolls on.