Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Vodafone trading update shows company on a steady course
There’s a Q3 trading update out from Vodafone [LON:VOD] this morning. Total revenue is up by 4.3% and the company notes it remains on track to deliver FY22 results in line with the higher guidance it laid out in November. In terms of customer engagement, it’s a story of growth on essentially every metric other than in terms of European TV subscribers, something which arguably says more about evolving viewing habits than anything deeper. There are a lot of numbers to wade through here, but at first inspection it’s difficult to find cause for concern.
#2. Strong underlying momentum for DX Group; shares still suspended
DX Group [LON:DX] has issued an update this morning for the 26 weeks to 1st January. Although shares in the company remain suspended whilst the corporate governance inquiry is ongoing, trading was reported as being in line with management expectations, up 11% on the corresponding period a year earlier and momentum has continued over the last few weeks. The company notes it is in a strong cash position with significant levels of liquidity available.
#3. Molten Ventures highlights upside potential in unlisted investments
Molten Ventures [LON:GROW] has published a portfolio update this morning, noting strong revenue growth with momentum set to be maintained, and a healthy pipeline of investment opportunities. Perhaps the most interesting point however is tucked in the CEO’s comment where Martin Davis notes “The European technology venture market continues to thrive despite the wider fluctuations in public markets and demonstrates the uncorrelated nature of public and private markets in this space.” That undelrines the weight of opportunity that he believes is held in unlisted companies – something which could be critical if we’re looking at a market correction.
- Three Quick Facts: Vodafone, SThree and Vesuvius (14 days ago)
- Three Quick Facts: Vodafone, Britvic and Imperial Brands (17 May 2022)
- Three Quick Facts: Centrica, DX Group and Supreme (10 May 2022)