Sosander funds “compelling” Sainsbury opportunity
Macro & Overnight
Powell repeated previous comments from last week about the disinflationary process despite much stronger than expected jobs data on Friday. His speech persuaded equity investors that earlier views of rates peaking this year remain valid. Treasury yields firmed, but equity markets were volatile, ending higher on the day.
Energy prices rose with oil lifting decisively off the $80 floor of recent weeks.
UK Company News
Institutional broker Cenkos said its revenue would be approximately £20m and expects to break even. However, it completed the three largest AIM IPOs, added 17 new clients and acted on deals that represented around 15% of the total money raised on AIM. It also said that markets had made a more encouraging start to 2023. Clients are engaging in both capital raising and M&A opportunities.
The specialist media company Future expects to deliver full-year profit in line with expectations. It said there was a slowdown in audience numbers and consumer spending towards the end of 2022, which has continued, impacting the growth of digital advertising for consumer technology products. However, overall it reiterated profit guidance for the year.
Ad agency M&C Saatchi has a CMD and also updated on trading. The company’s trading through Q4 2022 and the start of 2023 continues to align with management expectations. Having turned the company around, it plans to build on the foundations, focusing on delivering creative solutions. The CMD will address the new strategy of accelerating high-margin, digitally-led growth. It will use its specialist expertise connected through data and tech to deliver meaningful commercial and societal change. Hopefully, today’s meeting will offer more clarity.
Sosander, the fast-growing female fashion brand, recently announced its first third-party partnership opportunity with an in-store presence through Sainsbury’s. To meet this “compelling opportunity” to accelerate the roll-out of Sosandar’s product range, the company has announced an equity fundraising of at least £4m. (Podcast featuring Sosander founders here).
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