Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Hargreaves to return to FTSE-100
News released after last night’s close confirmed that Hargreaves Lansdown LON:HL. would return to the FTSE-100 following the deletion of Flutter from the index. This news also paves the way for Molten Ventures to advance up to the FTSE-250 from the FTSE Small Cap Index.
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#2. Strong growth in vet revenues for Pets At Home
Full year numbers from Pets at Home LON:PETS are out today with consumer revenues up by 6.9% although short term availability issues have impacted profitability as was expected. The company has also seen a very strong start to the new trading year especially in the Vet group, where growth has been in the low double digits. The note adds that the company doesn’t see any risk here from the ongoing CMA investigation into pricing, and is comfortable with the current analyst ratings for FY 25.
#3. Fullers dispatches 37 pubs – at a 9% premium
Fuller Smith & Turner LON:FSTA has this morning announced the disposal of portfolio of pubs for £18.3m, a £1.6m premium to gross asset value. The proceeds will be used to bolster the balance sheet and better prepare the company for future acquisitions and capex projects. Whilst this portfolio did generate £1.3m in profits last year, the key stand out is arguably the discount the properties had been trading at.
