Three important things you need to know from across the markets this morning from investment writer, Tony Cross.
British Telecom produced Q3 earnings on Thursday which received a somewhat muted reception from the market. Despite customer attrition from its broadband services, revenues were rising but the stock was marked back regardless. This morning we’ve evidently seen investors moving in, recognising value and bidding the price higher. The stock was trading around multi-year lows and whilst there are still challenges ahead, the share price was up just over 3% by late-morning.
Superdry saw its shares race more than 100% higher on Friday as the company confirmed that co-founder Julian Dunkerton had sought permission to put together an offer for buying the business. Earnings news released last week highlighted that various options were being explored as management looked to secure its future.
The Eastern European low cost airline issued its traffic figures for January this morning which proved sufficient to elevate interest in the company’s stock. Shares were trading around 7% higher late morning and that’s despite load factors for the month falling to 82% from the 86% seen a year ago. That was put down to geopolitical events but the company has committed to a dynamic approach here as it looks to better match capacity and demand. The carrier is also set to relaunch services to Tel Aviv next month.
