Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. SSP Group acquisition to see significant growth in Australia
SSP Group LON:SSPG has this morning announced the acquisition of Australia’s Airport Retail Enterprises, who operate 62 outlets across seven Australian airports. The move accelerates SSP’s growth ambitions in the APAC region, extends the company’s current presence in Australia and is seen as being immediately earnings accreditive, with the ability for synergies also to be exploited although the financial consideration isn’t disclosed.
- Three Quick Facts: Marston’s, On The Beach, SSP
- Three Quick Facts: Aston Martin Lagonda, Next and GSK
- Companies Reporting: McDonalds, Aston Martin, GSK, Next
#2. GSK gets fast track approval route for Hep-B therapy
Pharma giant GSK LON:GSK has advised that its therapy to treat chronic cases of hepatitis B has received fast track designation from the FDA. This recognises the unmet need for medicines in this space, is a condition that affects 300m people worldwide and currently has limited treatment options.
#3. Updated drill results from ECR Minerals show higher gold prospects
ECR Minerals LON:ECR published further drilling results this morning, updating numbers released last week. The company notes a significant uptick in gold grades, with the best result being 41.3g/t Au over 1 metre, almost double the previous top end reading. Last week’s numbers didn’t lend all that much support to the underlying stock, so will this latest release prove any more defining?
