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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June 9, 2023

Perhaps the UK is not closed for business after all?

Macro & Overnight

UK has seen two IPOs announced this week: WE Soda, a Turkish soda ash producer, and CAB Payments, an international payments company. In addition, US technology provider Palantir has identified London as the location for its international HQ. Perhaps the UK is not closed for business after all?

The UK has capped the prices it will levy its North Sea windfall profits tax.

UK Company News

Croda, the ingredients supplier to the personal care and life science industries, blamed customer de-stocking for lowering guidance for sales and profits which it said it expected to continue into H2.   

Value for money retailer Shoe Zone upgraded its outlook guidance. It said its Summer ranges were selling well and saw the benefit of sharply lower shipping costs.   

WANDisco updated on its plans to raise $30m, publish its 2022 results and reset the business following the discovery of fraudulent activity under previous management. It said it will also be announcing a new name. The shares remain suspended.  

Prognosticator 

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