TRADERS were rattled when Vodafone was downgraded by two brokers yesterday, over concerns about its revenues from Europe. And the telecoms giant may be in for an icy reception when it delivers its interim management statement on Thursday. Speculation is mounting that it may need to acquire other businesses to compensate for its shortcomings. GFT Markets quotes a price of 170.2p-170.6p for Vodafone Group.
Bellway is expected to report that its numbers are in line with expectations on Thursday. The Funding for Lending Scheme and the subsequent pickup in the mortgage market is likely to support sales volumes over the coming months, helping the developer to build on its profitability. ETX Capital quotes a price of 1,098.35p-1,103.65p for Bellway.