Market Prognosis

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

<< Back to Market PROGnosis archive

February 15, 2024

China a pig of a market for Genus

Macro

UK GDP data indicate that the economy has been in recession in the last two quarters of 2023. Cue the alarmist headlines.

UK Company News

Cirata (formerly Wandisco) has appointed Ken Lever as Chairman.

Genus, the animal genetics company and owner of the Pig Improvement Company, warns that China continues to be a challenging porcine market, a pig of a market.

Jet2 said its forward bookings are encouraging, with average load factors 1.5ppts ahead of Summer 2023. Hard-earned holidays remain a priority for its customers. The Group continues to see input cost increases, including hotel accommodation and changes to the EU Carbon Emissions Trading Scheme. It raises profit guidance.

Housebuilder MJ Gleeson sees encouraging signs of demand recovery and says results align with expectations. It reaffirms its medium-term targets.

Close Brothers said that the FCA review of historical motor finance commission arrangements creates uncertainty and cancels its dividend.

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.