The UK bank NatWest published Q3 results this morning which received a warm reception from investors. Cost control saw earnings soar, whilst net interest income gained 13% and impairments grew at a slower pace than has been observed by some peers. Whilst headline guidance was reaffirmed from the H1 update, full year RoTE is now expected to exceed 18%. The NatWest share price was around 3% higher in early trade.
Microcap bar and pub operator The Revel Collective issued a strategic update this morning and announced the launch of a formal sale process. This is the reincarnation of Revolution Bars but the company cites repeated government meddling in the hospitality industry as continuing to make the operating environment difficult. Whilst a buoyant festive season is expected, it’s the post-Christmas lull that has rattle directors as they recognise additional funding would be necessary to continue trading. The Revel Collective share price slumped 50% in early trade off the news.
Keeping with the small caps and the main board listed international mining group Cloudbreak issued an update this morning, noting it had seen excellent sampling results from its Darlot West gold project in Western Australia. Significant levels of mineralisation of up to 65g/tonne were noted and this has seen the stock rally. The Cloudbreak share price was up around 28% by 9am.
Most read news on Investegate this morning
Statement re Update on Irrevocable Undertakings - - Treatt (TET)
CONFIRMATION OF NO MATERIAL CHANGE - - Mkango Resources (MKA)
