Aston Martin secures £50m financing as it posts another loss

Dan Coatsworth, head of markets at AJ Bell, said: “Just when the Aston Martin stock market story looks like it is running out of road, something comes along to refuel the business – if only for the short term.

“Some modest positives in its latest trading update may have applied spark plugs to a spluttering share price but today’s move higher is a speck of green in a sea of red since the 2018 listing.

“Aston Martin’s time as a public company has been more Johnny English than James Bond.

“The company has chalked up yet another quarterly loss, albeit a narrower one than the market was expecting, and has signed a new £50 million funding deal with top shareholder and chair Lawrence Stroll’s consortium.

“While this buys Aston Martin some badly needed breathing space, it doesn’t feel sustainable in the long term.

“Aston Martin’s bonds have been heavily sold off in recent weeks amid concerns it is running out of cash.

“Stroll’s latest intervention just kicks the can down the road. Unchanged full-year guidance feels heavily caveated by references to the uncertain backdrop.

“Aston Martin needs to prove it can generate sustainable cash flow, but the path looks like a journey dogged by roadworks than a clear motorway on a sunny day.”