Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Tesco [LON:TSCO] has published its first quarter results this morning, for the 13 weeks to May 29th. As lockdown unwinding continues the numbers continue to impress with group sales up 1% on a year ago and some 8.1% higher than the same period in 2019. Clothing and General Merchandise sales have both performed well, with the former up some 52% on a year-on-year basis. Sales at Booker, the company’s cash-and-carry division, are also reported as recovering well now that the hospitality sector is reopening.
Braveheart Investment Group
Braveheart Investment Group [LON:BRH], the AIM listed company that saw its profile jump in recent months off the back of developments in anti-viral fabrics at its portfolio company Remote Monitored Systems [LON:RMS], has today published full year results. The share price, which did little for years, has seen some rampant volatility in recent months so may now look keenly priced. Shareholders also benefitted from a 42.75p special dividend late last year, funded by the sale of the RMS stake.
There are a couple of updates out from cruise operator Carnival [LON:CCL] this morning, firstly that its Princess division is going to resume sailings in the Autumn and secondly that a business update will be presented to analysts next Thursday. Shares in the company, as we have noted before, continue to climb from the lows of last spring, but remain well off pre-COVID highs.
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