UK property market: Redrow share price rises as it posts 91 per cent profit increase September 2, 2014 Despite recent signs of slowing growth in house prices, housebuilders are still riding a healthy property market wave – Redrow is the latest to post stellar results, with a 91 per cent rise in profits. Help to Buy helped the housebuilder make a record £132.6m pre-tax profit for the year to June, compared with £69.4m [...]
London Report: Economic data to show UK recovery on a steady course August 31, 2014 ECONOMIC data due this week appears to show continuing steady growth in the UK’s economy, with little chance of an interest rate rise when the Bank of England announces its latest decision on Thursday. Mortgage approvals data for July, due today, may have dipped slightly, but analysts expect this weakness to be temporary. Meanwhile manufacturing [...]
London Report: FTSE is bolstered by doveish Bank data and thin trading August 13, 2014 THE FTSE yesterday ended slightly higher in thin trade, boosted by a doveish message from the Bank of England. Britain’s leading index closed 24.26 points higher, or 0.4 per cent, at 6,656.68 points after a choppy session marked by low trading activity. Shares in G4S, the world’s biggest security company, led advances, up 5.3 per [...]
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 [...]
City Moves for 22 May 2014 | Who’s switching jobs May 21, 2014 Marsh The insurance company has appointed David Bramall as head of placement in its national corporate practice. He joined in 2008 as a casualty broker from Willis, where he was also a casualty broker. Lloyds Bank The bank has announced the appointment of Nigel Brady as a director for sterling financials trading in its commercial [...]
Redrow buys sites for 1,300 homes April 29, 2014 Redrow said yesterday it has snapped up 11 sites since the start of the year with space for 1,300 homes, as the housebuilder reported another buoyant trading period. Net reservations in the 17 weeks to 25 April were up 17 per cent at 1,280, while its average selling price rose 16 per cent to £289,000. [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
Best of the Brokers for 24 February 2014 February 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH AMERICAN TOBACCO Panmure Gordon tells investors in the tobacco firm to “hold” shares and has nudged its target down to 3,225p ahead of full-year results on Thursday. The broker thinks the pace of black market growth is slowing and the firm can [...]
London Report: Insurance firms start a deluge of UK earnings February 23, 2014 A BUMPER week for UK earnings kicks off today with results from Hiscox, one of the big home insurers reporting full-year figures. Figures from Hiscox, RSA and Direct Line could give more detailed estimates of losses for UK industry and themselves after recent flooding and storms. Aviva and L&G are also set to give end [...]
From forlorn flats to towering success January 30, 2014 One Commercial Street is the residential project proving London’s back in business OF ALL the new towers cropping up around the UK, an ambitious development, abandoned during the financial crash, is proving that London can bounce back from a crisis. Developer Redrow London now has high hopes for its flagship project, One Commercial Street, in [...]