Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Ocado extends partnership with Groupe Casino
Ocado (LON:OCDO) has this morning advised the market that it has announced the completion of agreements to extend its partnership with Groupe Casino in a move which is consistent with the MoU published back in February. The company sees this as a significant milestone in its work with another major retailer and comes after the stock lost almost 5% in yesterday’s trade.
#2. Mears growth reflected in half year results
Mears Group (LON:MER) have provided a half-year pre-close trading update for the six months to 30th June. Revenues and operating margins both came in ahead of the comparative, whilst the defensive nature of the business means it should be well positioned to face the mounting economic headwinds. Results for H1 will be published in early August.
#3. Quantum Blockchain: crypto miner posts full year figures
There’s a fairly long note of final results out from Quantum Blockchain (LON:QBT) today, covering the year to 31st December. The combination of falling underlying prices and rising energy – along with other input – costs has made for the proverbial “perfect storm” here, but management are keen to stress that the company is working to focus on knowledge to solve how to bring down mining costs by exploiting features in the mining algos, rather than just throwing more money at the problem. However with total losses more than quadrupling to EUR5.4 million and mounting current liabilities, the key will be maintaining investor confidence.
