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I think a red day is exacerbating things. It has been under the...

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    I think a red day is exacerbating things. It has been under the radar for a while with everyone’s overexuberance for BNPLs etc. what I like in this story is the market has come back a long way, but the genuine value in the books of this one was enough to drive over 30% in a day. Those sort of moves off of a P&L update will be very hard to come by in this stage of the recovery. People will be far more cautious now looking for growth as value diminishes.

    the best bit is clearly we are benefiting from stimulus. Banks and non food retail on the other hand will struggle for a while.
 
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