Postal strife hurts Barratt October 27, 2009 PROPERTY group Barratt Developments yesterday voiced concerns that national postal strikes might affect the take-up of its £720m rights issue. Barratt Developments issued a notice to shareholders urging them to promptly take up their share entitlement, or use another courier service to return their applications. In a statement to the stock market yesterday, the company [...]
BEST OF THE BROKERS September 15, 2009 BARRATT DEVELOPMENTSInvestec said that Barratt Developments is geared up disastrously to pay peak values for land and Wilson Bowden. The broker said that, at £1.3bn, net debt is still surprisingly high. With the firm reported to be considering a highly dilutive £500m rights issue at the end of the month, the broker rates the stock [...]
BEST OF THE BROKERS August 17, 2009 AEGONNomura said that it sees Aegon’s capital position as being very solid and views the firm as having a “belt and braces” approach to capital management. The broker thinks that the firm’s economic rationale for early repayment to the Dutch government is compelling and rates the stock a “buy” with a €7.00 target price. HAMPSON [...]
Liberty unveils demerger as profits tumble March 9, 2010 LIBERTY International will split its retail and commercial property businesses in a bid to “achieve greater value for shareholders.” The shopping centres arm of the business will become a real estate investment trust (REIT) called Capital Shopping Centres (CSC) with a market cap of around £2bn. And its London based portfolio will become Capital & [...]
Housebuilders hail stability but warn mortgage drought will hurt July 9, 2009 Barratt shows signs of stability as volumes pick up but mortgage drought continues Barratt Developments yesterday reported a 19 per cent fall in private house prices over the last 12 months and warned that a sustained improvement in training conditions would remain elusive until the availability of mortgage finance recovers. However, the group has witnessed [...]
THE LONDON REPORT July 5, 2009 OUSEBUILDERS will come under scrutiny this week, with giants Persimmon and Barratt Developments set to update markets. Traders will be hoping for further signs that there is an an uptick in mortgage availability, as banks repair their balance sheets and are able to resume lending to homebuyers, feeding through to the battered sector. Barratt, set [...]
THE LONDON REPORT July 5, 2009 OUSEBUILDERS will come under scrutiny this week, with giants Persimmon and Barratt Developments set to update markets. Traders will be hoping for further signs that there is an an uptick in mortgage availability, as banks repair their balance sheets and are able to resume lending to homebuyers, feeding through to the battered sector. Barratt, set [...]
Barratt rules out rights issue May 13, 2009 Housebuilder Barratt Developments quelled talk of an imminent cash call yesterday, saying debt was in line with its plans. The group also said it expected to be able to meet loan covenants, helped by an “acceptable” start to 2009. Barratt, the UK’s fifth largest housebuilder by market value is saddled with £1.42bn debt as of [...]
FTSE 100 slips below 4,200 but defensives stay afloat July 6, 2009 THE FTSE 100 fell one per cent yesterday to close 41.37 points down at 4,194.91, on concerns about the global economic outlook, with heavyweight oils, miners and banks leading the market lower, after it gained 0.1 per cent on Friday. The index fell through the 4,200 level for the first time since late April. It [...]
Miners give support as they rise to recoup their losses July 7, 2009 MINERS were the saviour of the FTSE 100 yesterday, offsetting falling oil stocks and disappointing UK industrial output data to keep the index flat, or just 7.91 points lower, at 4,187. Data showed that UK manufacturing output unexpectedly shrank in May, falling 0.5 per cent on the month, making it less likely the economy returned [...]