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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.


There’s a note out from Vodafone [LON:VOD] this morning confirming the pricing of its Vantage Towers IPO. It’s come in at EUR24 per share, which is at the lower end of the revised range, although still gives the unit an impressive valuation of EUR12.1 billion. Estimated proceeds of EUR2.3 billion arising from the sale will be used to reduce group debt, but VOD investors left feeling short changed may be underwhelmed.

Ocado Group

Ocado Group [LON:OCDO] has issued a trading statement this morning for Q1, covering the 13 week period to February 28th. The company will be in for an interesting ride from here, with the next set of numbers coming against tough comparatives but for now retail revenues were up by 40%. The note highlights plans to roll out new customer fulfilment centres on the existing model, along with a series of mini centres to facilitate faster delivery times. The company believes that grocery shopping has been transformed by the COVID pandemic with many consumers not intending to return to bricks and mortar venues. As the vaccination programme rolls out over the summer, that idea will be truly tested.

Eve Sleep

AIM listed mattress provider Eve Sleep [LON:EVE] has seen some volatility on its share price in recent weeks so today’s full year numbers will be under scrutiny from investors. Revenues are up 6% although gross profits have advanced by 14% and the company notes that its “rebuild” strategy has been completed six months earlier than planned. The improved performance hasn’t been sufficient to eradicate a statutory loss for the full year being reported, but it has been trimmed dramatically. Will this be sufficient to cement last month’s gains?

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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