Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Aston Martin sales stall, outlook downgraded
Aston Martin LON:AML issued a Q3 trading update along with a revised outlook for the full year. Units delivered during the quarter were lower than expected owing to weaker demand in Chian and also the US, thanks to tariff implications.
- Aston Martin abandons hopes for positive cash flow in 2H
- Will Aston Martin go private to hide from stock rout?
In terms of outlook, FY volumes are set to decline by a mid-to-high single-digit percentage against the 6,030 cars delivered in the comparative, with the result that EBIT will post below the bottom end of market expectations. Cost reviews are underway but the struggles for AML persist.
2. ITM Power secures new contract
Hydrogen power operator ITM LON:ITM has this morning announced the signing of a contract for a project which would see the company supplying its own technology to a project which has been shortlisted in the UK’s Hydrogen Allocation Round 2. This is an early stage move as the funding still needs to be agreed.
- UK Stock Market News: Bunzl, Wood Group, ITM Power
- AIM Market Roundup: Bezant Resources, Versarien, ITM Power
3. HSS notes strategic shift and resilient performance, but headline metrics could weigh
Hire group HSS LON:HSS issued full year results this morning, noting a resilient performance against a challenging backdrop. The extended reporting period and splitting of the business makes the comparatives here somewhat challenging but management cite strong strategic progress with an accompanying announcement of a large scale, long-term agreement plus conditional disposal of further assets as transformative. Whether this is enough to distract investors from the losses posted and declining revenues remains to be seen.
