All eyes are on China
Macro & Overnight
All eyes are on China as mounting unrest in response to Covid-19 restrictions adds another layer of geo-political uncertainty to the near-term outlook.
The risk-off move across Asian markets earlier included lower equity prices and a c 3% fall in oil prices.
What is Happening in China? is the theme of this week’s HyperNormalTimes.
Over the US holiday, Black Friday online sales were resilient, indicating perhaps a US soft landing is still within sight.
This week we get the critical labour market update from the US on Friday and Q3 GDP.
UK Company News
Fast-growing telco software supplier Cerillion produced FY Revenue up 26%, helped by significant new customer implementations and strong demand from existing customers. The company believes there is increasing pressure on telcos to find efficiencies in their digital real estate, which encourages further market take-up of product-based SaaS solutions, which Cerillion offers, rather than the more bespoke solutions from traditional vendors. With its new customer sales pipeline at a record high, Cerillion continues to generate strong cash flows with rising recurring income. The company boosted its dividend for the year by 28%.
Troubled skincare company Revolution Beauty has appointed small-cap veteran Bob Holt as its permanent CEO.
Auto distributor Inchcape‘s CFO is stepping down.
Schools IT vendor RM has agreed to sell the RM Integris and RM Finance Business for up to £16.0 million. This is consistent with its previously outlined strategy to refocus on core Managed Services.
On This Day ...
… in 1660, The Royal Institution, the oldest scientific academy in continuous existence, was founded after a lecture at Gresham College by Sir Christopher Wren. Among its 8000 elected fellows are the leading scientific lights of the past four centuries, including Newton, Darwin, Einstein, and Hawking.
NB Prices are as at the previous day’s close.
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