Energy giants fuel London indexes ahead of government white paper April 5, 2022 London’s top indexes were boosted by investors pouring into energy stocks yesterday ahead of the UK government publishing its much-awaited energy strategy. The capital’s premier FTSE 100 index rose 0.72 per cent to 7,613.72 points, while the domesticall-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.13 [...]
Housebuilders goose London indexes after dodging £4bn cladding bill April 4, 2022 Reports of the UK government footing most of the bill for fixing the cladding scandal strengthened sentiment toward London-listed housebuilders today. The capital’s premier FTSE 100 index added 0.28 per cent to reach 7,558.92 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.53 [...]
Abrdn urges housebuilders to go further than legal requirements in coughing up cladding cash March 23, 2022 FTSE 100 asset manager Abrdn has called on housebuilders to do more than the bare minimum to foot the bill to fix blocks with unsafe cladding. According to a report from Sky News, the City investor has written a letter to big players in the construction sector, urging them to do more than they are [...]
Housebuilder shares boosted by fresh cladding estimate March 14, 2022 Housebuilders saw their share prices lifted on Monday after optimism that the bill foisted on developers for cladding remediations would be much lower than initially forecast. It had been thought that property firms would have to pay £4bn to rectify unsafe cladding on 11-18metre tower blocks. However, the potential bill was estimated to be closer [...]
Housebuilders drag London markets down as investors flee stocks January 24, 2022 London markets took a beating yesterday driven lower by most sectors tumbling as investors fled stock markets on US Fed rate hike fears. The capital’s premier FTSE 100 index closed 2.63 per cent lower at 7,297.15 points, while the domestically-focused FTSE 250, which is more aligned to the health of the UK economy, lost 3.64 [...]
Cladding suppliers shares tumble after Gove threat on remediation costs January 24, 2022 Building material manufacturers and property developers’ shares plummet on Monday morning as the government toughens up on firms unwilling to pay to fix unsafe homes. Housing secretary Michael Gove threatened a UK trading ban on manufacturers of combustible cladding and insulation in a letter to the Construction Products Association. In the letter, Gove said more [...]
Grenfell: Gove tells dodgy developers ‘we are coming for you’ as they’re forced to foot the bill for cladding crisis January 10, 2022 Michael Gove has sent a stark warning to property developers that have profited from installing dangerous cladding, like that was used in the Grenfell tower, telling them that “we are coming for you” as he unveils his plan to make them pay for cladding refurbishments across the UK. Gove told MPs today that the burden [...]
Housebuilders’ share prices plunge as government cracks down on cladding crisis January 10, 2022 Homebuilders’ share prices tumbled on Monday as the government said it was prepared to force developers to pay for the removal of dangerous cladding. Housing minister Michael Gove has handed builders a March deadline to agree a plan to protect leaseholders who cannot sell their homes due to their fire defects. Leaseholders have called on [...]
London markets dip as investors pour out of housebuilders January 10, 2022 London markets dipped today driven by investors pouring out of housebuilders after the UK government signalled it will clamp down on them shunning fixing Britain’s cladding crisis. The capital’s premier FTSE 100 index closed 0.53 per cent lower at 7,445.25 points, while the mid-cap FTSE 250 index, which is more aligned to the health of [...]
FTSE 100 edges lower as investors dump housebuilders December 30, 2021 London’s premier index edged lower today driven down by investors selling off real estate stocks despite fresh data released today showing UK house prices are rising at the fastest pace since before the financial crisis. The capital’s premier FTSE 100 index closed 0.24 per cent lower at 7,403.01 per cent, while the mid-cap FTSE 250 [...]