GCIAre these companies bombed out opportunities?
Are these companies bombed out opportunities?
Taking Stock on Friday 19th January 2024
Companies discussed on “Taking Stock” today:
05:15 & 32:45 Big Technologies #BIG
11:20 Frenkel Topping #FEN
11:58 Ensilica #ENSI
13:15 & 30:15 Me Group #MEGP
14:27 Auction Technology Group #ATG
18:17 Science Group #SAG
21:50 Prospex Energy #PXEN
24:30 Chapel Down #CDGP
24:40 Naked Wines #WINE
24:50 Distil #DIS
25:00 Virgin Wines #VINO
25:10 Gusbourne #GUS
25:40 Versarien #VRS
26:00 Watches of Switzerland #WOSG
36:15 Avacta #AVCT
38:00 & 40:15 Synectics #SNX
38:50 4Imprint #FOUR
39:30 The Pebble Group #PEBB
TOP BUSINESS STORIES
Retail sales fall at sharpest rate since Covid
Retail sales volumes fell by 3.2% in December in the sharpest drop since the UK was in a Covid lockdown.
Official figures revealed a sharp fall in demand for goods, but food sales also declined in the run-up to Christmas.
The Office for National Statistics (ONS) said it appeared people did their shopping earlier in November, taking advantage of Black Friday sales.
It meant that retail sales tumbled at the fastest rate since January 2021.
The ONS said the amount of non-food products people bought in December fell by 3.9%, with department stores the worst hit. That compares to a 2.7% increase for non-food products in November.
Food demand was also down at the end of the year, falling 3.1%. In November, food sales rose by 1.1%.
UK PM Sunak says there is 'more to come' on tax cuts
British Prime Minister Rishi Sunak on Friday said there was "more to come" on tax cuts, adding he would look to reduce taxes at future fiscal events if it was possible to do responsibly.
"We said that we do want to cut taxes more at future events, when we can responsibly do so. Our priority is very clear. It's controlling spending and welfare so that we can cut people's taxes," Sunak told broadcasters.
"The plan's working... stick with it and there's more to come."
Finance minister Jeremy Hunt is due to deliver a budget on March 6
The Chancellor, Jeremy Hunt, has given strong hints that he wants to cut taxes in the spring Budget.
Mr Hunt said that countries with lower taxes have more "dynamic, faster growing economies".
In the Autumn Statement, the chancellor reduced national insurance for workers by 2% and announced tax relief for businesses.
If inflation falls, followed by lower interest rates, Mr Hunt may consider he has scope for further tax cuts.
Mr Hunt was speaking during his visit to the World Economic Forum, in Davos, Switzerland, where he is hoping to lure more investment to Britain.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.