MoPh Markets

Revolution Beauty, Royal Mail, IAG, Amigo: Morning Roundup

London stocks opened higher on Friday following strong gains from Wall Street. The FTSE 100 is currently up 1%.

Here are some of the latest news stories from London-listed stocks on Friday.

Revolution Beauty

  • Revolution Beauty provided an update on an independent investigation.
  • The company has announced Tom Allsworth (Executive Chairman), and Adam Minto (CEO) have voluntarily agreed to step away from management.
  • This is to allow them to support the independent investigation being carried out by the Forensic Risk Alliance.

International Distributions Services

  • IDS has published its trading update and full-year estimate for the performance of its UK business Royal Mail.
  • Royal Mail H1 adjusted operating loss was £219 million, compared to a profit of £235 million in the prior year.
  • Furthermore, the company expects a full-year adjusted operating loss of around £350 million.
  • Shares of IDS are down 13.57%.

IAG

  • IAG shares continued to climb on Friday, rising almost 3% at the start of the session, now up 1.1%.
  • This follows its preliminary third-quarter results on Thursday, which saw stronger than anticipated profits.
  • The airline now expects operating profit for the third quarter to be in the region of 1.2 billion euros.

Amigo Holdings

  • Amigo shares surged 33% on Friday after the regulator got approval to resume lending.
  • The lender was barraged by several customer complaints over alleged mis-selling.
  • Following a lengthy investigation, the FCA agreed on a rescue plan with Amigo, including paying compensation to creditors and returning to lending by 26 February 2023.

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