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. JLR cyber-attack stalls outlook for Vertu
Car retailer Vertu Motors LON:VTU issued interim earnings news this morning for the six months to 31st August. Revenues rose fractionally to hit record highs but profits slipped, although management point towards tough comparatives rather than a challenging market here. The company is caught in the disruption of the JLR cyber attack through its network of 10 dealers for the marque, but setting this impact aside the company remains on track to meet full year targets.
2. FCA’s revised car settlement payments could lift Lloyds
There’s a very short note out from Lloyds LON:LLOY this morning regarding the motor finance mis-selling saga, which the FCA published a consultation paper on yesterday. The expectation is that the proposed settlement will reduce the liability of lenders – Lloyds has promised a further update once it has assessed the implications.
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3. Student accommodation provider Unite sees interims fall short, full year on track
Unite Students LON:UTG, the student accommodation provider, has this morning issued a trading update. Whilst reservation rates for the current academic year are down marginally and rental growth rates are also suppressed with both metrics coming in below target, full year guidance has been reiterated. The company is increasingly looking to long term partnerships with universities and notes modest growth in portfolio valuations, too.
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