Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Bellway trading update shows momentum recovering
There’s a trading update out from Bellway LON:BWY this morning, covering the February-May period. The housebuilder notes a sustained improvement in sales demand compared to the final quarter of the last financial year, although the forward order book has contracted by around 25% in number of properties and by slightly more than that in terms of gross value. Full year output remains in line with previous guidance.
- Companies Reporting: Bellway, LVMH, ASML, Whitbread, Netflix
- Three Quick Facts: Bellway, Hargreaves Lansdown, Murray International
- Three Quick Facts: Bellway, Tesco, Raspberry Pi
#2. Oxford Instruments targeted sales approach delivers results
Oxford Instruments LON:OXIG has preliminary results out today, covering the 12 months to 31st March. On an adjusted basis, revenues are up 21%, whilst pre-tax profits have risen by more than 24%. Investors are being rewarded with a 7.7% uptick in dividends with management noting that the continued positive momentum is a result of the focus on structural growth in core markets.
#3. Roquefort Therapeutics cancer therapy tests looking promising
Roquefort Therapeutics LON:ROQ this morning advised the market that its anti-cancer mRNA therapy had delivered positive test study results at a statistically significant level. Management caution that these are early stage results but if they can be repeated in full clinical trials it has the potential to become a first in class cancer medicine.
