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Day ahead: Oil giant BP to show quarterly improvement as write-downs drop-out
Investors are be hoping that for the full-year overall BP should reverse the previous year’s losses as big write-downs should not feature again.
Company
LON:BWY
Bellway PLC is a holding company. The Company, through its subsidiaries, is engaged principally in house building in the United Kingdom. The Company is a volume house builder selling primarily in the private market and trading nationally in areas of high population. It also acquires and sells second hand homes taken in part exchange.
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Investors are be hoping that for the full-year overall BP should reverse the previous year’s losses as big write-downs should not feature again.
FTSE 100 stocks ended lower with sombre Wall Street shares on Monday although gold miner Randgold Resources was the stand out gainer while small-caps scaled record highs
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BP could please on Thursday as its recent quarterly updates have proved a little disappointing. GlaxoSmithKline will unveil its numbers Wednesday.
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A look at some significant themes from the Brexit debate this week
Builders and building materials
In a trading statement ahead of the FTSE 250-listed firm’s AGM later today, chief executive Ted Ayres said: “The Group has made an encouraging start to the financial year and customer demand for new homes continues to be robust."
Investments and investor services
FTSE 100 shares extended gains in the second half of Tuesday to close comfortably up in tendem with record-breaking gains on Wall Street
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Unlikely given the last trading update, but it might be able to slow the downward spiral
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Big names reporting include Bellway, Dixons Carphone, John Wood Group, Go-Ahead Group, PZ Cussons and Berendsen
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A look at some analyst views on Tuesday morning
Builders and building materials
For the year to end July, pre-tax profit came in at £497.9mln against £354.2mln last year on revenues, which were almost 27% higher at £2.24bn.
ASOS is very clearly on the front foot, Peel Hunt asserts
The collapse of sterling will have been a boon to both retailers
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“Our key concern is that cash generation does not support [the] valuation,” the Wall Street investment bank said.
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UK housebuilders were in favour with the brokers after a survey showed sentiment is strong in the housing industry
London shares closed lower on Tuesday after a session where it only briefly rose on the day, thanks to lower oil and bank stocks
London shares ended Wednesday lower but finished the month around 90 points higher
Builders and building materials
Have faith in the land bank and the balance sheet is the message from the houses builder
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Despite downgrading a whole host of housebuilders on Tuesday, Deutsche Bank said it was still positive about the sector and was merely adjusting its estimates to reflect Brexit uncertainty