Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a note out from Unilever this morning, announcing that the company has abandoned plans to simplify its legal structure. The business had been looking to move from a dual UK/Dutch structure and focus operations in continental Europe. It said this would unlock shareholder value, but a weight of investors have failed to support the idea, leading to its withdrawal.
There may have been bad news out from the UK car industry yesterday with a sharp fall in new sales being reported, but a trading update from Motorpoint this morning is rather more upbeat.
Numbers for the first half will be published by the end of November, but revenues are tipped to be 9% higher than they were a year ago. The company acknowledges the ongoing political and economic uncertainty, but trading performance looks positive.
Gold miner Centamin has published Q3 production details from its Sukari site in Egypt this morning, showing good performance quarter on quarter, although output is still some way below last year’s levels.
The business is however upbeat about its performance and sees scope for further efficiency gains to be made. Full Q3 results are to be published on November 1st.