Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Trainline sales growth at top end of expectations
There’s a trading statement out from Trainline PLC LON:TRN this morning covering the full year performance. Group sales are up 22%, that’s at the top end of the previously published guidance, with UK growth notably continuing to outstrip what is being seen in the international market, although management do call out the uptick in Spanish domestic ticket sales amidst rail operator liberalisation in the country and Trainline’s success in becoming the aggregator of choice
- UK Stock Market News: Deliveroo, Volution, Trainline
- UK Stock Market News: easyJet, Wetherspoon, Great Portland Estates
- Companies Reporting: easyJet, Burberry, Netflix
#2. easyJet’s 7 year bond takes off
easyJet LON:EZJ has this morning announced the pricing outcome of a bond issue it has undertaken for EUR850m with 2031 maturity. The offer was four times oversubscribed and flew with a 3.75% coupon in a move that management say reinforces investor confidence in the airline’s strategy. That certainly looks like cheap money at the moment, especially if recessionary overhangs can be avoided in most of its markets.
#3. IG Q3 numbers robust despite falling volatility
Financial services play IG LON:IGG has published Q3 results this morning, along with news of a boardroom reshuffle. Group revenues are fractionally up on the situation a year ago despite lower levels of market volatility. Client assets also reached a record high, breaking above £10bn for the first time. On a year to date basis the revenue numbers were slightly less compelling, but full year results remain forecast to be in line with current market expectations.
