Here’s Paul Donovan of UBS Wealth Management on today’s UK GDP report () due in (minutes):
Investment spending is likely to be negative, driven down by the uncertainties caused by US President Trump’s trade taxes and the interminable EU-UK divorce.
Online grocer Ocado has today confirmed what you may already have suspected – a major warehouse fire is rather bad news for profits. Ocado has reported a £ . 5m loss for 4254, rather worse than the £ .4m loss a year earlier.
Although revenues jumped 20%, this was wiped out by the impact of a huge blaze at its warehouse in Andover last year
John Moore, senior investment manager at Brewin Dolphin, says this loss has taken the shine off Ocado’s recent technology deals abroad.
“Ocado has delivered decent revenue growth and a range of new partnerships in the last months, but its loss for the year is well beyond analyst expectations. While the impact of the Andover facility fire will account for some of this, the scale of the loss may have some market watchers concerned.
Looking underneath the cashflow figures the UK has turned positive, but investment in the international business has pushed the scale of cash outflow higher. ”
3) . (am EST :
City traders appear to be hoping that central bankers will save the day (again) if the global economy stumbles:
David Morrison (@ DAJMorrison1)
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