Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Reach: headwinds continue for publisher
Publishers Reach LON:RCH have this morning delivered a Q3 trading update for the period to 24th September. Depressed open market yields and a change in the way Facebook serves up news means that page impressions continue to fall off, dragging on revenue as a result. The note adds that data driven revenues are higher value and now make up a larger part of overall income. Full year targets remain on track and costs are being trimmed, but for an industry that is having to evolve quickly, the headwinds seem relentless.
- UK Stock Market News: Speedy Hire, LungLife AI, Ariana Resources
- Small Cap Stocks: Capital Metals, Seascape Energy, Oracle Power
- Small Cap Stocks: Tavistock Investments, Capital Metals, Trafalgar Property
#2. Speedy Hire interims published, no real cause for concern
Speedy Hire LON:SDY has its half year trading update out today. Performance is noted as having been “satisfactory” and revenues are up 5% year on year. There’s an expectation that H2 will be stronger as is usually the case, something that will help ensure full year numbers are in line with forecasts. Net debt is also being paid down, something which needs to be seen as a positive given the high interest rate environment.
#3. Capital Metals: Sri Lankan political move could bolster outlook
There’s a note from Capital Metals LON:CMET who have appeared in our small cap roundup more than occasionally of late. They note that a Sri Lankan politician has been relieved of his mandate, a move which has the potential to allow local regulators to better deliver against their licensing obligations. Capital’s work on the island has been somewhat disrupted despite a series of legal interventions. The share price reaction will be worth watching.
