Busier morning here at Redburn as more companies are starting to join the results party. Howden Joinery and Signify our highlight today with both companies surprising us with positive ad-hop updates. HWDN said profits are ahead (Dec-20E PBT indicated to be £185m, 12% above of ours/cons) and LIGHT pretty much reversed their pre-Christmas warning (one we really like here, read full commentary in the movers section above). We also heard from ASOS (UK the standout at +36% but EU and US less impressive in our view), and Persimmon (another mixed one, strong cash but slip in sites and margin).
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