Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. ITM Power announces upbeat interim results
A trading update from ITM Power LON:ITM has been published this morning, covering the six months to 31st October. Revenues of £7.5m have been achieved, putting the company well on track to deliver £10-£18m for the full year. Adjusted EBITDA losses for the full year should be at the lower end of expectations and net cash at the end of H1 was more than 25% up on forecasts.
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#2. Boohoo: Frasers extends stake
Boohoo Group LON:BOO has this morning advised the market of further stake building by Frasers Group at the end of last week, who have once again added to their holding in the fast fashion play. A further 0.7% of boohoo’s stock has been acquired, taking the current holding to 17.22%.
#3. Wizz Air November traffic stats shows growth embedded
Low cost carrier Wizz Air LON:WIZZ has issued November traffic stats showing a 28.8% increase in capacity, a 29.3% uplift in passenger numbers and a 0.3% improvement in load factors compared to the same month a year ago. On a rolling 12 month basis the metrics are even more impressive with load factors exceeding 91%, helping drive down per passenger CO2 emissions as a result.
