London Report: Shares slip as FTSE waits for Scotland verdict September 17, 2014 BRITAIN’S top share index yesterday slipped and underperformed gains on rival European bourses, as the uncertainty raised by Scotland’s vote on independence pegged back the UK stock market. The blue-chip FTSE 100 index closed down by 0.2 per cent, or 11.34 points, at 6,780.90 points. Engineering conglomerate Smiths Group was the worst FTSE stock in [...]
Barratt boss warns of labour shortage September 10, 2014 The boss of Britain’s largest housebuilder Barratt Developments warned yesterday that a shortage of skilled workers could prevent the country from delivering the homes needed to tackle housing crisis as the company reported a doubling of full-year profits. Mark Clare said the lack of skilled workers – from bricklayers to architects and plasterers – is [...]
Is this the UK housing market’s new “normal”? Barratt share price up as revenues rise 21pc September 10, 2014 The UK housing market has returned to "normal seasonal trends" in 2014 after the frenzy created by the launch of Help to Buy last year, Barratt Developments said this morning while posting a 21.1 per cent rise in annual revenues. Revenues at the housebuilder rose to £3.1bn for the year to the end of June, up [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
Direct Line set to join FTSE 100 as Barratt slides down the list September 2, 2014 Insurer Direct Line looks set to join the coveted FTSE 100 listing this week alongside newcomer Dixons Carphone, as the FTSE committee conducts its quarterly review. The changes are likely to be announced later today and could also see homebuilder Barratt demoted out of the top 100 blue chip companies. The developer only joined the [...]
London Report: FTSE slips from five-day rise as ex-div firms fall August 20, 2014 BRITAIN’S top share index yesterday retreated from a three-week high, halting a five-day winning streak, with companies trading without the attraction of their latest dividend putting pressure on the broader market. The benchmark index finished down 0.35 per cent, or 23.83 points, at 6,755.48 points. Despite markets pausing for breath after recent rises, Standard Chartered [...]
Don’t blame developers for poor doors – blame Britain’s planning laws August 5, 2014 "POOR doors” have been slammed on newspaper front pages in recent weeks – stories of luxury developments in New York with separate entrances for on-site affordable housing have spread across the Atlantic, as it turns out that there are similar arrangements in London too. The outrage this discovery has provoked is understandable. Though the practice [...]
Best of the Brokers for 21 July 2014 July 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH LAND COMPANY Barclays has maintained its “overweight” rating, increasing the target price to 936p from 695p. The broker believes that British Land’s underlying real estate values should continue to increase, with a spike in office rents, as well as a modest increase [...]
London Report: Yellen warning and rise in UK inflation cause FTSE to slip July 16, 2014 BRITAIN’S top shares lost ground yesterday after US Federal Reserve chair Janet Yellen voiced concern over valuations. And housebuilders were hit by growing expectations UK interest rates would soon rise, while Imperial Tobacco fell sharply. The FTSE 100 index was down by 0.53 per cent – 35.69 points – at 6,710.45 points. Imperial Tobacco sank [...]
Barratt profits double on sales at six-year high July 10, 2014 Barratt Developments, the biggest housebuilder by volume in the UK, yesterday announced it expected annual pre-tax profits to double to around £390m, buoyed by higher demand from a strong property market. The earnings figures would be record-breaking for Barratt, beating analyst forecasts and up from £192m in 2013. The forecast comes as the group saw [...]