Three important things you need to know from across the markets this morning from investment writer, Tony Cross.
Whitbread
A Q3 update from owners of Premier Inn Whitbread this morning painted an upbeat picture of rising room rates and occupancy levels. Year on year, the key hotelier RevPAR – that’s Revenue per Available Room – was up 9% from the same period last year and a whopping 39% higher than pre-pandemic levels. Strong momentum is also reported, whilst the growing German operation is tipped to reach break even on a run rate basis later this year. The stock is leading the FTSE-100, up 3.6%.
Marks & Spencer
Propping up the blue chip index, Marks & Spencer’s latest trading update was evidently seen as lacking in festive cheer by the wider market. That’s despite claims of leading the food market in terms of volume growth and clothing sales being sufficiently robust to see less stock going into sale. Concerns over rising costs and ongoing consumer uncertainty appear to have taken a toll, but it’s also worth putting today’s 5.5% sell off in the context of the fact the share price more than doubled in 2023.
Trustpilot
Consumer satisfaction specialists Trustpilot added 19% by mid-morning, again responding well to earnings news. Critically the company now expects to post adjusted EBITDA above the top end of market forecasts and there’s confidence that the longer term outlook remains positive, too.
