‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Construction output falls less than expected May 13, 2011 Construction output fell slightly less sharply in the first quarter than first thought, indicating the sector was less of a drag on overall GDP growth, official data showed on Friday. The Office for National Statistics said construction output fell four per cent in the first three months, less than the initially reported drop of 4.7 [...]
UK housebuilders lifted by a rise in profits as market improves May 11, 2011 BRITISH housebuilders Barratt and Bovis Homes both said they expected to report a rise in profit after a pick-up in sales, although activity will remain limited by tight mortgage availability. Barratt Developments, Britain’s largest housebuilder by volume, said yesterday sales rates returned to normal levels from 1 January to 8 May, with private selling prices [...]
BEST OF THE BROKERS May 9, 2011 GREAT PORTLAND UBS has downgraded the property firm from “neutral” to “sell” and has raised its target price by 40p to 390p. The broker thinks the current share price is forward-looking, and does not allow for much execution risk in Great Portland’s ambitious development plans in the City and West End. However, it thinks strong [...]
THE WEEK AHEAD in association with GFT May 8, 2011 COMPANY NEWS ● Today, energy company Centrica delivers a trading statement and holds its AGM. ● Also today, HSBC delivers its first quarter trading update. The update includes more financial details than previous quarterly updates. Pre-tax profits are expected to rise. ● Serco also holds its AGM today. The FTSE 100 company was founded in [...]
ANALYST VIEWS: WHAT DO YOU THINK OF BELLWAY’S RESULTS? March 30, 2011 MARK HUGHES | PANMURE GORDON The company saw revenues grow in the first-half, as both volumes and average selling prices increased year-on-year. With a positive trend in current trade, we are happy with our full-year forecasts. MICHAEL VASSALLO | BREWIN DOLPHIN Bellway is trading at a larger discount to all in the sector bar Barratt. [...]
Don’t let builders be the only beneficiaries March 28, 2011 Housebuilding companies have rallied since news in last week’s budget that £250m would be made available to help first time buyers get onto the property ladder. Dubbed Firstbuy Direct, the scheme will give those below a certain income threshold access to a 25 per cent equity loan to cover the deposit on a new home. [...]
THE TIPSTER February 27, 2011 FTSE 250 house builder Barratt Developments released a statement that sales have been strong since the start of the year, and losses amounted to £4.6m compared to £178m losses last year. The firm has cut its net debt by 11 per cent to £537m. It is forecast to fall to £400m within a few months. [...]
Barratt upbeat on house sales February 24, 2011 Housebuilder Barratt Developments said sales had picked up since the start of the year, as it posted losses of £4.6m – down from a £178m loss a year ago as the recession hammered house sales. Barratt said that while the tough mortgage market continued to dampen its trading figures, the firm’s focus on prices rather [...]
CITY MOVES | WHO’S SWITCHING JOBS January 18, 2011 Fuller, Smith & Turner The brewer has appointed Lynn Fordham, chief executive of FTSE 250 private investment manager SVG Capital, to its board as a non-executive director. She will join both the remuneration and audit committees in addition to her seat on the board. Fordham has previously held senior financial, strategic and operational roles at [...]
Bullish corporate results bolster FTSE January 18, 2011 THE FTSE rose healthily today and though it gave back some of the gains in the afternoon it closed in the black, up 1.18 per cent or 65.10 to 6,050.80. Banks boosted trading as conditions in the eurozone continued to stabilise, while Burberry was in demand after releasing excellent third-quarter results that showed revenues rose [...]