Good morning, it's Paul here.

Estimated time of completion - not sure yet, probably about 3pm.  Update at 14:40 - today's report is now finished.

There's not much to report on today. I'll start by looking at trading updates from IG Design Group (IGR), and Norcros (NXR)  - both of which I rate as decent companies.

** Breaking News **

The Govt & the EU say they have reached a deal on Brexit. The question now, is whether it will get through Parliament or not? If it does, then I think we could light the blue touchpaper for a recovery in small caps shares. Maybe.

Begbies Red Flag Report

The above is a clickable link through to this interesting report for Q3 (as are all words shown in blue, just in case anyone didn't already know that).

Unsurprisingly, this shows an increase in companies in financial distress.

No surprises on the sectors worst affected either;

... real estate and property, construction, retail and travel sectors the most severely affected.   

I find it useful to read these reports, as it helps to put my investing in perspective. In particular by showing us which sectors are suffering, that might enable us to exit from something which could be building up to a profit warning.

Norcros (LON:NXR)

Share price: 223p (price unchanged today, at 11:24)
No. shares: 80.5m
Market cap: £179.5m

Trading update

Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products will announce its interim results for the 27-week period ended 6 October 2019 on 14 November 2019. In advance of this, the Group is providing the following trading update.

I would have expected a bathroom fittings company to be suffering at the moment, due to the generally wobbly economic outlook. That doesn't seem to be the case, which is encouraging for shareholders here;

Group underlying operating profit1 for the first half is expected to be in line with the Board's expectations, a resilient performance reflecting the Group's continuing success in winning share despite the challenging market conditions.

The stand-out growth in revenues of +24.5% in South Africa is purely due to the acquisition of House of Plumbing. LFL revenues were flat against last year's H1.

The UK eked out a…

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