Market movers: Trifast slides after warning on profits
A look at some risers and fallers on the market today.
Company
LON:BKG
The Berkeley Group Holdings PLC builds homes and neighbourhoods across London, Birmingham and the South of England. The company revives underused land, creating welcoming, sustainable and nature-rich places where communities thrive and where people of all ages and backgrounds enjoy a great quality of life.
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A look at some risers and fallers on the market today.
The fall in buying power caused by the increase in mortgage rates “makes a significant drop in house prices inevitable”, one analyst said
The FTSE 100 group offered insights on costs, house prices, housing demand in London and the land buying market
“The good level of demand continues to support pricing above business plan levels, which is sufficient to cover cost increases on a blended basis across Berkeley's developments,” the FTSE 100-listed housebuilder said
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Britain's top share index closed on the day ahead by 13 points, or 0.18%, at 7,300
Builders and building materials
Berkeley and Ashtead will gvie a steer on the building market on both sides of the Atlantic
Builders and building materials
Official house price data released today showed housing demand remained strong, though house price growth is expected to slow
The housebuilder made no changes to its plans for £282mln of annual shareholder returns
Dobson to take over as chairman once current chairman Glyn Barker steps down
Challenges include the implications of the situation in Ukraine it said
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Further sanctions are reportedly being planned that could see tariffs on imported Russian goods rise to above 30%
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The housebuilder, which is focused on London and the south-east, issues third-quarter results having recently raised full-year expectations
The housebuilder upgraded its earnings forecast by 5% for the current financial year and for each of the following three years
Data recently points to strong new build demand, rents and home buying interest
Pricing generally has better than expected said the London-focused housebuilder
Pre-tax profits in the year just ended rose 3% to £518mln
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At the close, the UK blue-chip index was 45.14 points, or 0.6% higher at 7,062.61, just below the late session peak of 7,065.05
The broker expects reservations to improve while migration from Hong Kong is likely to be ‘meaningful’
The momentum that other homebuilders have enjoyed is currently not present in London, says UBS
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Over the week as a whole, the FTSE 100 was on the up, gaining 1.9%