Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Naked Wines directors stock up
Directors of Naked Wines LON:WINE whose share prices was rattled last week following disappointing results and the decanting of the group’s CEO have bought the dip, investing a collective £75,000 in the company’s stock according to PDMR disclosures filed today. Arguably they have the clearest view over where the business is heading next and this would tend to suggest there may be cause to buy into the optimism going forward.
#2. BAE Systems trading update puts full year numbers on target
BAE Systems LON:BA. has published a trading update, noting that full year guidance remains unchanged from the upgraded numbers put forward at the interim point. Management add that order flow remains strong, underpinning visibility for good top line growth in the coming years whilst the company remains focused on operational performance. Results for the full year will be published on 21st February.
#3. 88 Energy Namibian farm in deal announced
88 Energy [LON:88E] has announced a farm in agreement with a Namibian oil and gas well. The move is said to provide 88 Energy and its shareholders with “a fantastic opportunity to earn a significant working interest in a very large scale, highly prospective, under-explored acreage position on attractive and logically staged commercial terms”. This does however involve a series of cash and equity based payments over the coming months. Investor reaction will be telling.
