Bellway says order book for new homes is way ahead of last year June 5, 2014 HOUSEBUILDER Bellway said yesterday that it was confident Britain’s strong housing market would continue to grow, as it reported that its order book for new homes was “significantly ahead” of where it was last year. The company that its order book of homes due for completion after 31 July stood at £670m, compared to £380m [...]
London Report: FTSE in slight slip but Asos crashes on Aim June 5, 2014 THE FTSE 100 yesterday ended lower, as the country’s equities were hit by a stronger pound in the wake of a round of aggressive stimulus measures from the European Central Bank. As the ECB cut its main lending rate to 0.15 per cent from 0.25 per cent – and the interest rate on its deposit [...]
Best of the Brokers for 03 June 2014 June 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BELLWAY Numis has upgraded Bellway to “buy” from “add”, with the target price remaining 1,810p. The broker believes that the company will remain prudent with its balanced approach to growth and risk management, while being expected to be at the forefront of revenue [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]
Bellway raises forecast for new homes as property market grows March 26, 2014 HOUSEBUILDER Bellway yesterday raised its forecasts and said it now expects to deliver 20 per cent more homes this year thanks to returning confidence in the housing market and a surge in customer demand. Pre-tax profits jumped 73 per cent to £103.8m in the six months to 31 January, beating analyst forecasts, while earnings per [...]
Why HSBC’s feeling excited about UK house building March 26, 2014 HSBC has issued a bullish note today on housebuilders explaining why – despite the sector having already trebled in value since 2011 and despite fears overs the impact of future interest rate hikes and the 2015 general election – it still remains upbeat on the sector. The bank has an overweight rating on eight of [...]
What you need to know before the open March 26, 2014 The rebound seen in European markets yesterday is expected to continue today, as investors set aside worries over the Ukraine-Russia situation, focusing on some pretty reasonable data from Germany and the US. The upbeat data buoyed Asian shares, which hit two week highs in Wednesday trading. Two further developments yesterday helped give markets a boost. [...]
Bellway profits soar as housing market gathers pace March 26, 2014 British housebuilder Bellway has reported a jump in profit before tax of 73 per cent to £103m for the half year ended 31 January 2014 – the highest ever achieved by the group in a first half trading period. Bellway said it had responded to strengthening conditions in the housing market across all regions by [...]
City Moves for 24 March 2014 | Who’s switching jobs March 24, 2014 Herbert Smith Freehills The law firm has announced the appointment of Justin D’Agostino as global head of dispute resolution. He is currently a partner, and has spent his entire legal career at the firm. Legal & General Property James Lidgate has joined Legal & General property as head of residential. He has over 14 years’ [...]
London Report: Petrol prices to help inflation to a four-year low March 24, 2014 INFLATION is expected to hit a four-year low, with data this week likely to show petrol prices and the pound’s strength controlling prices. Consumer Price Index (CPI) figures due out tomorrow are forecast to show inflation at 1.7 per cent in February, down from 1.9 per cent in January. and the lowest since October 2009. [...]