Eyes down for macro data
Macro & Overnight
We have a full calendar of macro data this week, with US inflation data tomorrow and the Fed rates decision on Thursday.
UK inflation data is on Wednesday.
The BoE and ECB rate decisions are on Thursday, along with Chinese manufacturing.
Friday sees UK retail sales and Euro Zone inflation.
As UK temperatures plummet, we switch on more coal-fired generation capacity. UK spot day forward electricity prices have spiked to new records.
Oil prices have stabilised after last week’s steep declines.
UK Company News
LSEG, the owner of the London Stock Exchange and Microsoft have launched a 10-year strategic partnership for next-generation data and analytics and cloud infrastructure solutions. Microsoft is to make an equity investment in LSEG. Microsoft’s Executive Vice President, Cloud and AI Group, will be appointed as a non-executive director of LSEG.
This deal follows Alphabet‘s investment in the CME last year and is clear evidence that real-time market data can now be cloud hosted. UK alternative providers Aquis Exchange and Beeks Financial Cloud also benefit from this emerging trend.
Branded casual wear brand Superdry Founder/ CEO Julian Dunkerton is considering a buyout, according to a story in Sunday Times.
FX provider Argentex reports strong momentum continuing through its last quarter of the calendar year. As a result, it expects revenue and earnings for 2022 to be ahead of current market expectations.
Recently IPO’d mixed signal chip maker EnSilica announced two new contracts with existing customers worth $3.6m, which underpin current market expectations.
Fevertree has a new chairman.
Tiny skincare supplier majority owned by Lush co-founder Andrew Gerrie, Silverwood Brands, announces the acquisition of a nearly 20% stake in the handmade cosmetics supplier Lush. Additionally, Silverwood is acquiring a 90% interest in an operating business in Japan called Sonotas. Sonotas owns two brands, Steamcream and Cigarro. These deals are in the form of shares in Silverwood Brands and take management and related party shareholdings to 95.93% of the substantially upsized group.
Scottish housebuilder Springfield has warned that it is taking a cautious approach to future sales rates, materials and labour costs and house price growth. Progressive note here.
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.