The London-listed, Asian-focused bank was the latest from the sector to publish full year results this morning. Despite wariness over exposure to the Chinese real estate sector, profits came in ahead of expectations and the bank also announced a $1bn share buyback. The Chief Executive also pointed out that the share price was being overly influenced by downside risks, all of which combined helped the stock advance by around 7.5% in early trade.
The iconic maker of model trains saw its shares jump 38% in early trade after the company announced that Frasers Group had more than trebled its holding taking its stake to 8.9%. Hornby is looking to leverage the distribution and logistics expertise of Frasers and see the tie up as delivering a series of collaborative opportunities. This move is just the latest by Frasers into the wider retail sphere.
An oil and gas development company with interests across the globe caught the eye of investors this morning with news that lawmakers in Indonesia had approved price and volume metrics for a field where the company is partaking in a joint venture. The share price struggled last year but recent gains have started to recover some of those losses. In early trade, the shares were up around 28%.
Headlines we expect on Monday:
Bunzl
final results
This
time last year Revenue £12bn, FY dividend 62.7p, Adjusted pre-tax profit
£698m
