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

Wizz Air

Full year results are out from Wizz Air this morning, Eastern Europe’s largest low-cost airline. Strong growth continues to be seen across the board, despite the adverse effects of rising fuel prices and a more competitive market. Passenger numbers are up by 16% and revenues have risen by almost 20% although margins have been understandably squeezed, down 1.4 percentage points. The company is confident over the outlook and has ambitious plans to expand its fleet with more fuel efficient aircraft.

Legal & General

Legal & General has this morning announced the sale of its general insurance business to Allianz. The division last year wrote £410million worth of business and showed an operating profit of zero, likely making the sale price of £242million look rather impressive to investors.

Lookers

There may have been shocking news about new car production in the UK released this week, but a trading update from the motor dealers Lookers, released this morning, doesn’t share the pessimistic view. For Q1, new car turnover is up 3% and gross profits are up 4%. For used cars, the parallel metrics are 6% and 1%, whilst aftersales saw turnover up 9%. Economic uncertainty may be hanging over industries like this, but their diversification does at least cover all bases.

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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