HOUSE builder Taylor Wimpey has recently posted profits ahead of expectations despite revenues staying unchanged. This has been put down to average selling prices increasing, which is a very pleasing sign for the firm which has seen a strong uptrend in share price since last December. Although the board remains cautious about the future it is still very upbeat about achieving this year’s margins. The technicals are showing positive signs as well with the upside continuing if 36.75p remains a strong support level. Capital Spreads quotes 41.3p-41.8p.
Multinational car dealer Inchcape reports its earnings tomorrow. It looks like the market is expecting a positive set of results, despite the slowdown in car sales in the UK reported on Friday (down 7.7 per cent in February) with its overseas divisions performing well. 410p seems to be strong resistance though. Spread Co offer a spread on Inchcape of 408.8p-409.6p.
Oil services provider Petrofac delivers final results today and the share price has come under pressure in recent weeks due to the number of installations it has in the Middle East. With the share price just above six month lows investors will be hoping that the recent disruption won't affect the final figures too adversely. The CMC Markets spread is 1,458.92p-1,463.11p.
Data released at the end of last week from Halifax suggests the housing market is still some way from a full recovery. Soaring oil prices and a tight lending market will fail to add any real confidence here either so the home builders could end up feeling the pressure too. Current IG Index price on Persimmon is 452.27p-455.03p.