Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Barratt sales slowing
There’s a trading update out from Barratt Developments LON:BDEV covering the full year to 30th June. Well reported macroeconomic headwinds have hit reservation rates which are down by a third, but completions are only around 4% lower. Pre-tax profit is forecast to be in line with market expectations and the company notes a solid – if somewhat diminished – order book for FY24, with completions set to fall by around 20%. Average selling prices continue to rise.
- UK Stock Market News: Close Brothers, Barratt, Helium One
- UK Stock Market News: Experian, Currys, Fiinu
- Companies Reporting: Ocado, Persimmon, Experian
#2. Diversified product set buoys Experian
Experian LON:EXPN has a Q1 trading update out covering the three months to 30th June. Revenues are up 5%, although the rising rate environment isn’t universally positive for the business. Whilst the backdrop does deliver some favourable outcomes in sectors such as business credit, at the same time traditional consumer lending is struggling. The diversified play here is clearly positive.
#3. MusicMagpie sees improvements ahead of important H2
Interim results are out from MusicMagpie LON:MMAG today, noting EBITDA up 7.7% supported by strong momentum as the company recovers from a weak start to the year where external factors such as postal strikes took a toll. The second half is traditionally where the company makes better returns and with a number of strategic initiatives in place, expectations will be upbeat for the remainder of the year.
