Here are three things you need to know in the financial markets today from investment writer, Tony Cross.
1. Solid fee growth for specialist recruiter SThree
Specialist recruiter SThree (LON:STEM) has issued a half year trading update this morning, noting Q2 fees are up 23% year on year, a number that the company believes reflects a true post-COVID comparable. Growth was recorded across all key sectors and it was the company’s biggest markets – Germany, The Netherlands and USA – which continue to see the strongest growth. Management are mindful of macroeconomic uncertainties but note that strong demand and a strong contractor order book underpin confidence in the future.
2. easyJet summer sales back at pre-pandemic levels
There’s a summer trading update out from easyJet (LON:EZJ) this morning, which includes some critical stats on the scaling back of flights in a bid to minimise disruption. Because of this, capacity in Q3 to 30th June is set to be around 87% of 2019 levels, increasing to 90% in Q4. Demand continues unabated however with the note adding that 48% of tickets are already sold for Q4 (that’s in line with the position in mid-June 2019) but with yield some 14% higher.
3. Record auction sales from gemstone miner Gemfields
Gemfields (LON:GEM) has published a note reporting record ruby auction results, with total revenues posting an all-time high of $95.6m at an average price of $246.69 per carat, again a new record for any mixed quality ruby auction, apparently. The company cautions that second half revenues are unlikely to match this remarkable performance, it adds that there appears to be a step change in the market right now.
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- STEM recruiter SThree in healthy position going into 2023 (9 days ago)
- Three Quick Facts: easyJet, Wickes and Reach (11 days ago)