Concerns over prolonged restrictions as looming third Covid wave overshadows upbeat PMI data March 24, 2021 Mounting concerns about a third wave of Covid-19 cases across the UK and Europe are adding to expectations that economies may reopen later than initially predicted. The shift in market sentiment is weighing on stocks as they are extending losses with covid concerns even overshadowing today’s upbeat PMI data. “Fears over the impact of tighter [...]
UK house price growth slowed in January as buyers paused due to new lockdown March 24, 2021 UK house price growth slowed in January compared to the previous month as buyers paused due to the introduction of new lockdown measures and uncertainty over the length of the stamp duty holiday, according to the latest official data. Average house prices increased by 7.5 per cent over the year to January, down from eight [...]
FTSE 100 slips as fears of third Covid wave spark recovery concerns March 24, 2021 London’s FTSE 100 dipped by 0.2 per cent on Wednesday as a jump in Covid cases across Europe sparked concerns about its near-term economic impact. The blue-chip index was edged down by bank stocks including HSBC, Barclays and Lloyds falling between one per cent and 1.5 per cent. British consumer price inflation fell to 0.4 [...]
UK housebuilder Bellway ups selling price expectations and reinstates dividend March 24, 2021 Bellway this morning reinstated its dividend and upped its selling price expectations for this year as the UK housebuilder reported strong demand for new homes. The FTSE 250 developer said the full-year average selling price is now forecast to be more than £295,000, up from a previous estimate of £293,054. It announced it will reinstate [...]
Key worker demand for affordable homes boosts sales at MJ Gleeson February 11, 2021 Affordable housing developer MJ Gleeson reported a jump in homes sold in the first half due to demand from key workers and first time buyers. MJ Gleeson said revenue was up 35.8 per cent to £142.6m and profit before tax increased 52.6 per cent to £20.3m. Earnings per share in the six months ended 30 [...]
Lancashire offset Covid losses with strong investment portfolio February 10, 2021 City-based insurer Lancashire left 2020 “relatively unscathed” as its investment portfolio offset nearly $150m in losses linked to the pandemic and natural catastrophes, the company announced this morning. The Group credits the positive fiscal year to its investment portfolio, which ranges from political risk to AV52 markets. Gross premiums written increased by 15.2 per cent [...]
Bellway revenue soars as first-half housing completions break records February 9, 2021 UK housebuilder Bellway reported that completions rose to record-breaking levels in the first half of the year, sending revenue soaring. Housing revenue jumped more than 12 per cent to £1.72bn in the first half, up from £1.52bn the previous year. The number of homes sold rose 6.3 per cent to 5,656, compared to 5,321. Bellway [...]
UK dividend drought continues into third quarter October 21, 2020 The collapse of corporate dividends this year continued into the third quarter, as payouts slumped by nearly half to £18bn. Companies have scrambled to conserve cash amid the crisis, and the 49 per cent drop last quarter represents the lowest third quarter total in a decade since the aftermath of the global financial crisis. Although [...]
Housebuilder Bellway restarts dividend as new orders jump October 20, 2020 UK housebuilder Bellway has resumed the payment of its dividend after the recent surge in housing market activity helped push up forward orders by 43 per cent. The group reported that pre-tax profit fell to £236.7 in the year ended July. That compared to £662.6 a year earlier. However, the future is looking brighter amid [...]
Bellway shares dip on low July house sales August 11, 2020 Shares in Bellway fell this afternoon as the housebuilder revealed that sales were down in July despite the easing of lockdown restrictions Private customer reservations were 140 per week last month, down from 162 a week in July 2019. The developer’s share price fell 4.17 per cent as it said it completed the sale of [...]