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18 Dec 2019
Sector Note -
Alumasc Group plc (ALU:LON), 172 | Avingtrans plc (AVG:LON), 390 | Gooch & Housego PLC (GHH:LON), 528 | Renold plc (RNO:LON), 37.8 | Robinson plc (RBN:LON), 97.5 | Solid State plc (SOLI:LON), 1,325 | Somero Enterprises, Inc. (SOM:LON), 338 | Surface Transforms PLC (SCE:LON), 9.2 | Trifast plc (TRI:LON), 72.3 | Norcros plc (NXR:LON), 187 | LPA Group Plc (LPA:LON), 61.5 | Xeros Technology Group Plc (XSG:LON), 2.1 | Hardide plc (HDD:LON), 5.8
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Sector Note -
Alumasc Group plc (ALU:LON), 172 | Avingtrans plc (AVG:LON), 390 | Gooch & Housego PLC (GHH:LON), 528 | Renold plc (RNO:LON), 37.8 | Robinson plc (RBN:LON), 97.5 | Solid State plc (SOLI:LON), 1,325 | Somero Enterprises, Inc. (SOM:LON), 338 | Surface Transforms PLC (SCE:LON), 9.2 | Trifast plc (TRI:LON), 72.3 | Norcros plc (NXR:LON), 187 | LPA Group Plc (LPA:LON), 61.5 | Xeros Technology Group Plc (XSG:LON), 2.1 | Hardide plc (HDD:LON), 5.8
- Published:
18 Dec 2019 -
Author:
David Buxton | Michael Clifton | Cavendish Research -
Pages:
32
Election implications for the Industrial sector: The Conservative Party’s now stable working majority provides clarity, with the withdrawal agreement expected to be rapidly enacted. Status quo in most policy areas, except a stark change from a promised fiscal stimulus through higher spending on public services and investment programmes, which could kick-start activity. We see a recovery in consumer confidence boosting activity in the DIY and housing sectors, and greater infrastructure expenditure will also boost a number of construction-related industrials. While the sector participates in a Boris Bounce, we regard the recent strength of sterling cautiously, affecting international competitiveness and reducing the translation of overseas earnings, although it helps to reduce the price of imported raw materials. The renewed threat of a no deal Brexit has resulted in sterling giving up much of its gains.