Shares in Nat West Group surged today after quarterly profits came in materially ahead of expectations and an increase in underlying lending activity served to bolster interest income by around 75%. Full year guidance has been increased too, with the bank now targeting a return on tangible equity of more than 15%, one percentage point higher than previously forecast. The Nat West share price is up more than 5% in the first hour of trade.
At the opposite end of the FTSE-100 was Airtel Africa. Despite solid customer growth being reported in half year results, currency headwinds continued to present challenges for the business with the update suggesting profit after tax was impacted by $151m of exceptional derivative and foreign exchange losses arising from further depreciation of the Nigerian niara. The 9% increase in interim dividend payment doesn’t seem to have cut much slack with investors and the share price is trading around 6% lower just after 9am.
The listed energy transition company has had a good week following Monday’s news that it had been invited to participate in a UK government initiative. With plans for green hydrogen storage already well developed and the comparatively short turn around time here, the stock has been enjoying gains all week. This morning’s 25% advance means that the EnergyPathways share price is now trading more than 100% higher since Monday’s open.
Most read news this morning
Response to Frasers Group plc - - Boohoo Group (BOO)
