Source: Sharecast
AJ Bell analysts Russ Mould and Danni Hewson said: "Turns out pigs, or certainly Moonpigs, can’t fly, with the online greetings card play still trading below its IPO price. Like a lot of pandemic winners, Moonpig has struggled in a post-Covid world, even if its operational and financial performance has stacked up better than its share price showing.
"While its core cards business has performed robustly, and benefited from increasing subscriptions for its ‘plus’ service which offers perks and discounts, selling experiences has not been so successful. Moonpig has had more luck shifting ancillary items like flowers and chocolates - using AI to pitch personalised options to customers. The business is also very cash generative and benefits from having materially lower costs than its bricks and mortar peers."
In the US, quarterly results from Darden Restaurants and McCormick & Co will be out.
On the macroeconomic calendar, first-quarter US GDP and US personal spending figures for May are among the highlights.
TD Securities said: "Core PCE inflation will likely accelerate in May to 0.36% m/m due to strong services prices. Headline will be higher at 0.49% due to energy prices. Personal consumption will remain high at 0.5% m/m but will likely moderate in real terms."