Taking Stock on 23/06/23: Vadim Alexandre on Cambridge Cognition plus Mortgages, Retail Sales, Winners & Losers

Episode 1498,   Jun 23, 2023, 11:03 AM

Vadim Alexandre, Head of Healthcare at SP Angel discusses, over the next 5 weeks, UK listed healthcare small & micro caps that will benefit from their AI capabilities. Today he looks at Cambridge Cognition #COG

INDICES

FTSE 100: 7,489 -0.16% (down 5 days in a row)


NOW BELOW THE 200 DAY MOVING AVERAGE WHIC IS AT 7,536

12 MONTH HIGH: 8,014 - 16/02/2023

12 MONTH LOW: 6,826 - 13/10/2022

FTSE 250

FTSE 250 18,181 -0.8%

12 MONTH HIGH: 20,614 - 01/02/23

12 MONTH LOW: 16,611 - 12/10/2022

FTSE AIM All-Share 770 -0.4%

12 MONTH HIGH: 934 - 15/08/2022

12 MONTH LOW: 771 - 23/06/2023

CURRENCIES / BONDS / COMMODITIES


3 Top Business Stories

1. Banks and building societies are meeting Chancellor Jeremy Hunt as pressure grows on them to help people struggling with rising mortgage costs.

The meeting comes after Thursday's shock decision by the Bank of England to hike rates to 5%, up from 4.5%, as it tries to tackle inflation.

Millions of UK households will see their budgets squeezed as a result.

(Click here to read more)

2. Shoppers have been splashing out on new outfits and other items for enjoying the summer weather, boosting sales overall, latest retail figures show.

After the sun came out in the second half of May, sales volumes rose by 0.3%, when -0.2% was expected

Online retailers and garden centres did particularly well but food sales fell 0.5% in May the ONS said.

(Click here to read more)

3. The financial markets are predicting UK interest rates will hit 6% by the end of the year, and remain at that level until next summer.

Thursday’s intervention failed to lift the pound, as economists reacted to the increased likelihood of recession.

(Click here to read more)


WINNERS & LOSERS


WINNERS

1. BSF Enterprise #BSFA - Cultivated Meat Approved for Consumption in US

Two cultivated meat companies, UPSIDE Foods, Inc. ("UPSIDE Foods") and Eat JUST, have been granted regulatory approval from the joint USDA and FDA framework to sell their cultivated chicken products to US consumers.

Today's approval will pave the way for the Government approval for other producers of cultivated meat in the US, including companies that 3D Bio Tissues is looking to partner with.

LOSER

1. Audioboom Group #BOOM - Trading Update

During 2023, the operational KPIs of the Company have continued to demonstrate year-on-year growth, however, the advertising markets have remained challenging for longer than anticipated.

Whilst we believe the advertising markets will improve - with the Company being in prime position to take advantage when they do - the Company expects the revenue and adjusted EBITDA for the current financial year to be lower than previously anticipated


Most Read RNS's

1. Audioboom Group #BOOM - Trading Update

2. 88 Energy Limited #88E - Hickory-1 Flow Testing Program Update

Multiple zones in Hickory-1 scheduled to be tested, all expected to flow based on reservoir characteristics

Rig selection expected to be concluded imminently for Hickory-1 flow tests

Post-well analysis of cores, mud gas isotubes and wireline data is ongoing; initial results encouraging with good correlation to migration and thermal maturity models for Project Phoenix

3. Revolution Beauty #REVB - Trading Update and response to boohoo Group

Trading has been excellent during this period, with sales up 60% year on year.

Gross margins were 48.2%, which compares with 41.7% in the corresponding period last year.

EBITDA at constant currency was £3.5m (Q1 FY24: £7.4m loss)

Cash on hand was £15.4m (Q1 FY2024: £10.1m).