Market Prognosis

A concise summary of the major macro events of the past 24 hours, and selected UK company-specific news.

August 7, 2023

This week’s data

Macro & Overnight

Macro data due this week include China’s trade and inflation data tomorrow and Wednesday, followed by US inflation data on Thursday and UK’s GDP data on Friday.

UK Company News

Card Factory updated that its positive start to the financial period has continued. Trading in its H1 was materially ahead of the Board’s expectations, and it now expects the FY to exceed its previous expectations materially.

Clarkson reported H1 profit of £53.1m (2022: £42.2m), an increase of 25.8% and eps which increased by 35.0%. It has £128.2m of free cash resources, and its expectations for the year are unchanged.

 

Prognosticator 

This communication is provided for information purposes only, and is not a solicitation or inducement to buy, sell, subscribe, or underwrite securities or units. Investors should seek advice from an Independent Financial Adviser or regulated stockbroker before making any investment decisions. Progressive Equity Research Ltd (“PERL”) does not make investment recommendations.

Opinions contained in this communication represent those of PERL and/or our affiliates at the time of publication and PERL does not undertake to provide updates to any opinions or views expressed. PERL does not hold any positions in the securities mentioned in this communication, however, PERL’s directors, officers, employees, contractors and affiliates may hold a position,  and/or may perform services or solicit business from, any of the companies or related securities mentioned.

Any prices quoted in our research are as at the previous day’s close.