Market Prognosis

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

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May 31, 2024

Evidence of slowing US economy

Macro

US GDP growth for Q2 was revised from 1.6% to 1.3%, while inflation measures, including the PCE core, remain above expectations, fuelling concern about US stagflation.

UK Nationwide house price index increased 0.4% in May, against expectations of 0.2%.

UK Companies

DP Poland reported FY results and a Q1 update. Its High-Volume Mentality strategy drove 20.7% growth in delivery sales and enhanced efficiency during 2023, and system sales rose by 25.1% to £46.1m. In Q1 2024, LFL System Sales and LFL Order Count growth were 19.9% YoY and 17.0%, respectively. Following its recent equity raise, it plans to open 35 new stores in Poland and 2 in Croatia, with six store refurbishments, invest in commissary capacity, and an automated aggregators’ order-placing system.

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