Banking giant Nat West published full year results this morning, revealing profits and return on tangible equity figures that were both above expectations. Impairments were also lower than had been forecast and shareholders will reap the benefits of a £300m share buy back, too. The stock jumped in early trade and although eased back slightly, gains were still in excess of 2% just over an hour into the day.
Resources company SolGold may have published half year results yesterday but it has been today’s pre-feasibility study that has evidently caught the market’s eye. Having run the numbers over a mine in Ecuador, it’s now estimating a significant reduction in CapEx, a 24% rate of return and payback in just four years from the start of processing. Shares were 20% higher shortly after the open but have slipped back a little to trade around the 10% higher as we approach mid-morning.
Jarvis Securities yesterday announced the reinstatement of quarterly dividend payments. That gave the stock a lift during Thursday’s session but we have seen a further 13% tacked on in early trade on Friday. Arguably this underlines the strength of investor demand right now for cash returns from holdings.
Headlines we expect on Monday:
Money
Supermarket preliminary results
This
time last year Group revenue £388m, Adjusted EBITDA £115.5m, Dividend
11.71p
