Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Bright summer forecast for IAG
Q1 numbers are out this morning from airline operator IAG LON:IAG with a significant year on year uptick in profits being recorded along with news that the company is well positioned for the peak summer season as demand for travel remains high. Revenue per seat kilometre was up 4.4% whilst fuel unit costs were down 4.9%.
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#2. Cairn Homes sees demand surge
Irish housebuilder Cairn Homes LON:CRN has a trading update out ahead of today’s AGM, which reaffirms full year guidance and adds that housing output for the year will increase by around 30%. The current forward order book stands at more than €1 billion.
#3. Macro headwinds continue to weigh for S4 Capital
S4 Capital LON:SFOR published its Q1 trading update, noting revenues down across the board as the company continues to battle weak client confidence and volatile macroeconomic conditions. Expectations are that performance will improve in the second half of the year, reflecting both seasonality and optimism that the market itself will see broad-based improvements. Full year targets are maintained.
