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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December 12, 2022

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

 

Prognosticator

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