Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Marks & Spencer growing market share, forecasts upped
Marks & Spencer LON:MKS has issued a trading update and full year outlook this morning. The company notes continued growth in market share with robust margins although considerable uncertainties remain in respect of the broader macroeconomic outlook. This seems likely to result in a tightening of consumer demand but management are confident of seeing full year profit growth and that interim results due in November will show a significant improvement against expectations.
- Three Quick Facts: Persimmon, Marks & Spencer, JD Wetherspoon
- Can Marks and Spencer shares sustain their current trend?
- Companies Reporting: Sainsbury, BT, Marks and Spencer
#2. 888’s William Hill acquisition boosts revenues but synergies still to be realised
Half year results from 888 LON:888 have revenues soaring in the wake of the William Hill acquisition. However interest costs and write downs have seen the company slump to a reported loss in the period, although synergies resulting from the expanded group are expected to yield results next year. A slower than expected recovery for the Middle East business however continues to hamper performance in the short term.
#3. Atlantic Lithium feasibility study announced for repurposing mining waste
Atlantic Lithium LON:ALL has announced the signing of a MoU to undertake a feasibility study regarding the production of feldspar feedstock as a by-product of its lithium mining in Ghana. If successful, this would help reduce the waste footprint of the mine, as well as providing environmental and local economic benefits. Further updates will be released in due course.
