Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a short update out from Vodafone [LON:VOD] this morning, regarding the company’s collaboration with Amazon Web Services (AWS). This will harness something called ‘edge’ computing, which offers a lower latency option than mainstream cloud computing. Vodafone is the first European telco to introduce the AWS ‘Wavelength’ service. Presumably others will follow with similar offerings, but it might help at least provide some support for the share price.
WM Morrison Supermarkets
There’s news of a couple of high-profile appointments at WM Morrison [LON:WMR] this morning, with a CFO and COO both being announced. The move isn’t however quite the shake-up that it may appear at first inspection – the new COO previously had responsibility for functions including CFO, whilst the new CFO was the company’s trade director. On the face of it this appears more of a minor restructuring than a more significant shake up at the top.
Preliminary full year numbers have been published by Numis [LON:NUM] this morning, emphasising the difficult economic backdrop the business is working against. Investment banking revenues are down 16% as UK dealflow dries up, whilst growing market share in its equities business has been overshadowed by weak UK investor sentiment, dragging revenues down by 21%. Earnings per share are off by two thirds, too, but the company remains committed to the market and is making a series of new hires. Next week’s election result will be very much in focus for businesses like this and the company notes that revenues over the last two months are ahead of the comparative print for 2018. The dividend is being maintained.