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

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.  


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.