At the close: Mining companies Glencore, Anglo American and BHP Billiton take FTSE 100 higher November 4, 2015 The FTSE 100 ended Wednesday's session slightly higher, led by gains in mining companies. The UK's top blue chip index ended the day 0.46 per cent up at 6,412 points. The day's biggest riser was Glencore, the embattled mining giant, which has been struggling to reassure investors worried about the size of its debt pile. It today announced a [...]
Countrywide shares are getting hammered after warning on profits November 4, 2015 Countrywide’s share price is getting hammered, leading the losers on the FTSE 250, after having warned on profits. The company’s share price was down 12.70 per cent in mid-morning trading after the announcement. Read more: Countrywide shares slump after housing market slowdown Shares in Britain's biggest lettings and estate agency Countrywide have plunged more than [...]
Countrywide blames housing market slowdown for profits warning as shares plunge November 4, 2015 Shares in Britain's biggest lettings and estate agency Countrywide have plunged more than 12 per cent this morning after the company issued a shock profits warning, blaming a slowdown in the housing market. The company, which owns estate agencies including Hamptons, Blundells and John D Wood, despite generally encouraging economic conditions, the pick-up in residential transactions it had anticipated following the [...]
World Wealth: Britain crowned fifth richest country in the world behind US, China, Japan and Germany November 3, 2015 The UK has been crowned the world’s fifth richest country in the world in a new report that measures the total wealth amassed by each country’s individuals. Britain’s population holds $9.24 trillion (£6.01 trillion) in private wealth, surpassing France, Italy, Canada and Australia. This is despite its relatively small population compared with countries such as Germany, [...]
Barratt, Berkeley Group, Persimmon and Taylor Wimpey share prices fall as Liberum brands housebuilders “overvalued” November 3, 2015 Is this another sign of the much-anticipated bubble? Shares in some of the UK's largest housebuilders fell this morning after one broker downgraded them to "sell". In a note this morning, Charlie Campbell of Liberum cut Barratt, Persimmon and Taylor Wimpey, saying the largest housebuilders' valuations were "too optimistic". All three were among the biggest fallers on [...]
UK house prices: It’s not just London where luxury house price growth is slowing – prime property price growth is slowing across the world November 3, 2015 It's well known that price growth among London's most high-end properties has slowed in recent months as various factors – including a punishing stamp duty regime and a slowdown in China – took effect. But it turns out it's not just London where prices have slowed: growth is slowing across the world. The Prime Global Cities [...]
EU referendum: More than half of Londoners believe Brexit will boost house prices November 3, 2015 On the fence about Britain’s EU membership? If you’re a London homeowner, this news may sway you. More than half of Londoners believe that leaving the EU will strengthen the value of their home. (No mean feat when the capital’s housing market is already the most overvalued in the world.) Across the nation, homeowners are [...]
Best of the Brokers for 3 November 2015 November 3, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BARRATT DEVELOPMENTS Analysts at Jefferies have hiked their estimates for Zoopla’s full-year earnings by 15 per cent, citing growth in the number of agents on the property listing website and strong performance from uSwitch, a price comparison website Zoopla bought earlier this [...]
UK businesses to face squeeze in rents over next 12 months November 3, 2015 UK business are predicted to come under increasing pressure from rising rents as the economy gathers pace and competition for space heats up, the Royal Institute of Chartered Surveyors (RICS) has warned. In its latest commercial market survey, RICS forecasts that UK rental values will jump by four per cent over the next 12 months. Businesses [...]
Property firm tapping into regional revival eyes £300m stock market listing November 2, 2015 A newly-formed real estate investment trust (Reit) hoping to cash in on the property market revival in the regions is poised to launch on London’s stock market with a value of around £274m. Regional Reit, a joint venture partnership between London & Scottish and hedge fund Toscafund, will tomorrow apply for a main market listing [...]