Taylor Wimpey profits up nearly 22 per cent at £827m as builder notes signs of housing market ‘improvement’ March 2, 2023 Taylor Wimpey said it “acted quickly” to address rapidly changing market conditions, as the London-listed construction group reported 3.2 per cent year-on-year growth in revenue to £4.4bn during the year ending 2022. The group reported pre-tax profits of £827m, a rise of 21.8 per cent from £678m in the same period last year. As inflation [...]
FTSE 100 close: Anglo American and Antofagasta receive China boost but Barratt drops after house price slide March 1, 2023 London’s FTSE 100 sprung higher today, propelled by investors piling into commodity giants after a batch of better than expected data indicated the Chinese economy is on the mend. The capital’s premier index flung 0.49 per cent higher to back above the 7,900 point mark, while the domestically-focused mid-cap FTSE 250 index, which is more [...]
Housing market: Shares in FTSE 100 house builders tumble as outlook weakens March 1, 2023 Investors are shying away from pumping their funds into the residential market after figures from the Bank of England show that mortgage approvals for house purchases plummeted to the lowest level since the 2008 financial crash.
FTSE 100 close: London index dips below 8,000 point mark on interest rate hike fears February 21, 2023 London’s FTSE 100 closed below the 8,000 point today driven lower by a broad sell off fuelled by investors sweating over more interest rate rises from central banks. The capital’s premier index slipped 0.46 per cent to 7,977.74 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Barratt: ‘Uncertainty’ pushes housebuilder’s sales reservations down 44 per cent but pre-tax profit rockets to £521m February 8, 2023 Barratt Developments posted profit before tax of more than £520m as the company suggested that its outlook for the year was improving, despite sales at the beginning of 2023 lagging behind last year. The housebuilder’s revenue increased 24 per cent in the six months to December 31 from the same period last year while its [...]
FTSE 100 close: London index kicks off new week softly ahead of expected Bank of England rate hike January 30, 2023 London’s FTSE 100 kicked off a new week in soft style today, with gains held lower by investors sweating over a string of big central banks raising interest rates this week. The capital’s premier index jumped 0.25 per cent to 7,784.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
Persimmon and Barratt to sign Gove’s cladding contract as others stall for time January 30, 2023 A handful of developers plan to sign the government contract to fix buildings affected by cladding and other fire risks in the coming weeks. Levelling up secretary Michael Gove gave developers a six-week deadline to commit to more than £2bn of repairs to fix the issues in buildings taller than 11 metres. This comes on [...]
Barratt: Rising mortgage costs could hit its profits as house prices slide January 11, 2023 Barratt Developments said the outlook for 2023 was ‘uncertain’ as rising mortgage costs force residential property sales down. The FTSE 100 listed house builder said demand for its homes in 2023 looks “uncertain” due to prospective home buyers shunning big ticket purchases amid a cost of living and mortgage affordability squeeze. Mortgage costs have been [...]
FTSE 100 close: China reopening boosts Antofagasta and London miners January 9, 2023 London’s FTSE 100 has today extended its robust start to the new year, fuelled by mining giants clinching gains on investors betting commodity prices are on the rise as China dismantles pretty much all of its Covid-19 restrictions. The capital’s premier index jumped 0.33 per cent to close at 7,724.93 points on the opening day [...]
FTSE 100 shrugs off rosy inflation numbers as house builders drop December 14, 2022 London’s FTSE 100 shrugged off upbeat figures today that indicated the UK’s inflation surge may have finally passed its peak. The capital’s premier index edged 0.09 per cent lower to 7,495.93 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.25 per cent to [...]