HCA Market Close 12..12.22 Featuring Photocat and Flugger
HCA Market Close 12.12.22 – Photocat announces its first order in the middle east with a contract in Dubai, while Flugger reports its H1 earnings.
Market Movements:
Denmark: OMX:C25 (-0.93%) ; Sweden: OMX:S30 (-0.36%) ; Norway: OBX:OSL (-0.06%) ; S&P 500 (+0.52%) ; Nasdaq (+0.30%); Stoxx 600 (-0.49%)
Market Drivers:
European markets fell today as the cold snap saw energy prices spike, while US markets gained ahead of the US CPI data set for tomorrow and the Fed rate hike decision set for Wednesday.
Today signaled the start of a pivotal week for markets as the Fed and the ECB will make rate hike decisions. At the moment, markets are expecting a 50 basis point by the Fed on Wednesday and a 75 basis point move by the ECB on Thursday. The Bank of England and monetary authorities in Mexico, Norway, the Philippines, Switzerland, and Taiwan also make rate hike decisions this week.
While markets have their expectations set, tomorrow’s CPI data could be disruptive as markets are now expecting confirmation of the disinflation narrative, which has driven much of gains over the last 8 weeks.
Snacks from the HCA Platform:
Today, Photocat announced its first sales partnership agreement in the Middle East. Schnell LLC, registered in Dubai, will start promoting Photocat’s technology in the Gulf Cooperation Council (GCC) region, both the solution focused on concrete factories and governmentally driven solutions fitted to road and pavement maintenance providers. The market is highly interesting for Photocat as Dubai, for instance, has an official aspiration to be the most sustainable city in the world by 2050. Photocat gained 12.5% in today’s trading.
Earlier today Flügger reporter, it’s H1 2022/23 numbers. It was known that the company is currently struggling with high costs related to raw materials, energy, and transportation. Further, the general economic slowdown is also affecting the company, which led to a downgrade of full-year expectations about a month ago, and currently, Flügger expects turnover in 2022/23 of DKKm 2,500-2,700 and EBIT of DKKm 50-80. Shares of Flügger ends the day more or less unchanged at DKK 434 per share, which is slightly up by 0.23%
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:40
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