Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Average selling prices higher at Persimmon
Persimmon LON:PSN published a Q1 update this morning, noting completions in line with expectations, down by around 10%, although private sales rate had increased marginally, providing management with some encouragement. Average selling prices are up by 6% despite affordability concerns and levels of prospective buyers visiting sites are seen as being encouraging, too.
- UK Stock Market News: Sainsbury, Clarkson, Poolbeg
- Companies Reporting: Ocado, Persimmon, Experian
- Best-performing FTSE 100 stocks in 2024
#2. Interest margin squeeze at Barclays just 4pbs
Barclays LON:BARC published Q1 numbers today, noting a RoTE of 12.3%, down from 15% a year ago and a four basis point reduction in net interest margins on a global basis. Impairments remain broadly flat
#3. Sales tick higher at Sainsbury’s but faster growth seen for FY25
Sainsbury’s LON:SBRY issued its full year results this morning with group sales up 3.4% and retail underlying profits up by 4.3%. The dividend is being held flat but management point to a transformative year ahead with strong momentum having been built in core grocery sales, and underlying operating profits for FY25 are expected to be between £1,010m and £1,060m.
