Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
WizzAir
Comparatively slim pickings as we emerge from the long Easter weekend but discount airline WizzAir LON:WIZZ has this morning published its latest traffic figures covering March. Passenger numbers remain hobbled by the COVID pandemic despite the airline appearing to have run one of the most comprehensive networks in Europe over the last 12 months. Expansion plans also continue unabated, but with capacity down 60% from March 2020 and passenger numbers off almost three quarters, it lays bare the challenges faced by the sector as a whole. That said, liquidity detailed on Q3 results published at the end of January suggested the airline could withstand more turbulence for a while, yet.
Oncimmune Holdings
AIM listed biotech Oncimmune Holdings LON:ONC has this morning announced two separate agreements, one with Roche and the other with Cedars-Sinai Medical Centre. Both are for the use of the company’s newly developed “infections disease panel” which will help with the diagnosis and treatment of COVID-19 patients. This provides further support for the company’s innovations in the space, but to what extent these developments have already been priced in remains to be seen.
88Energy
Sticking with AIM, there’s an operations update out from 88Energy [LON:88E]. We’ve seen a number of these from the business in recent weeks which have typically served to buoy the share price even when the news has looked less than stellar. The tone of today’s note again could have the potential to disappoint – will investors who have seen the share price rise eight fold in less than a month find sufficient inspiration here to not be tempted by profit taking?
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