Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Loungers to roll out roadside diners
Bar and restaurant operator Loungers LON:LGRS has this morning announced the launch of Brightside, what is planned to be a chain of nationwide roadside dining locations. The first will open on the A38 near Exeter early next year, with a focus on bringing genuine hospitality back to a sector which the company says has been dominated by drive-thru and quick serve concepts in recent years. This new arm of the business will further extend the estate which already runs to 210 venues.
#2. Joules trading misses expectations
There’s a business update out from Joules Group LON:JOUL noting that the company’s turn around plan continues apace. However trading for the 11 week period to 30th October has been behind expectations with macroeconomic factors and warmer weather both seen as weighing here. The need for fresh financing remains on the table and that softer performance coming out of the summer is squeezing cash headroom. The share price has more than doubled over the last month but this news could see investors rushing to take profits again.
#3. AFC Energy trials prove hydrogen can be created at remote sites
AFC Energy LON:AFC, the hydrogen power generation company, has provided an update on its methanol fuel tower field trial today. The test was successful, creating hydrogen from methanol which was used to displace diesel generators that would otherwise have been deployed as temporary power sources. Testing allowed operations to be sustained continuously for more than 100 hours and the concept allows for hydrogen to be produced on site at remote locations where shipping in the fuel would be uneconomical.
