Tony Cross
3 min read
Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Youngs sees benefits of warm weather and football in trading update
A trading statement is out from PubCo Youngs [LON:YNGA] this morning ahead of the AGM, noting that the strong trading momentum is being maintained, with revenues for the 14 weeks from 31st March up 9.4% against the comparative. The late May bank holiday saw an exceptional performance whilst the football also contributed. Management note the backdrop remains challenging but note the premium offering helps provide some differentiation in the market.
2. Q2 outlook update from Shell highlights impact of price volatility
Oil giant Shell [LON:SHEL] has provided an update on its Q2 outlook, noting that Trading & Optimisation is expected to be significantly higher in its Integrated Gas division, although the impact of the middle east conflict on volumes out of Qatar has been significant, with these tipped to fall by around one third. The underlying price volatility is also expected to significantly bolster the working capital position.
3. Strong sales at Victrex bolster Q3, FY outlook unchanged
The performance polymer solutions company Victrex [LON:VCT] issued a Q3 trading update this morning noting flat selling prices but an increase in volumes moving revenues up by 18%. Management note that Q4 will start to see the benefits of the profit improvement plan, but accounting for the usual seasonality and macroeconomic backdrop, the full year outlook is being left unchanged.
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In case you missed it
With the Armchair Trader team enduring another heatwave here in the UK our Editor, Stuart Fieldhouse spoke with analyst Angeline Ong of IG to pick five stocks for an era where cooling down is a serious investment opportunity. Armchair Trader Plus+ members get the full five.
