Another day and another name set to disappear from the London market with engineering services company TClarke announcing that it is to be bought out at around a 30% premium to last night’s closing price. The shares have reacted accordingly, with the company leading the market higher as a result in early trade.
Shoe maker Dr Martens has issued a full year trading update this morning, reaffirming guidance but also offering some visibility on the FY25 outlook. A series of headwinds from the US – the company’s largest market - including slowing sales and inventory management challenges are weighing on the outlook for the business. Management may be attempting to paint an optimistic picture when it comes to the longer term, but the market isn’t buying that line this morning, with the stock down 31% just over an hour into the day.
London’s FTSE-100 is a sea of red numbers this morning and B&M is no exception here despite the company posting an impressive full year trading update. The cost of living crisis is continuing to support the brand’s value proposition, whilst new store openings in the UK are also accelerating growth. Despite that however, the stock is still down by 2.5% in early trade, slightly underperforming the wider blue chip index.
Headlines we expect on Wednesday
easyJet Trading update
This time last year H1 ’23 Group revenues £2690m, Total revenue per seat £66.46, Fuel costs £770m
