Ferguson predicts outperformance in second half despite flat US market
The US market has become the prime focus for Ferguson after announcing in September that it would be spinning out its UK division
Company
Ferguson PLC
LON:FERG
We are the world’s leading specialist distributor of plumbing and heating products. We supply plumbing and heating products to professional contractors and consumers in the USA, UK, Nordics, Canada and Central Europe. We are listed in the UK on the London Stock exchange (LSE:FERG) and are a constituent of the FTSE100 index. Ferguson American Depository Receipts (ADRs) are traded on the highest tier Over-The-Counter market in the USA under the symbol FERGY.
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Ferguson rises after slightly better-than-expected results
The board expects to make further good progress in the year ahead.
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FTSE 100 closes firmly in red as US manufacturing data sends markets reeling
FTSE 100 ended the day down 47.89 points at 7,360.32, while the FTSE 250 also fell, losing 62.10 points at 19,874.57
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How much longer can Greggs stay on a roll?
Plumbing and heating products giant Ferguson will also deliver full-year results on Tuesday
Ferguson plans separate listing for former UK parent Wolseley
The plumbing and heating supplier said the demerger will enable both US and UK arms “to focus on accelerating the execution of their independent plans, providing clear investment propositions for each business”
Ferguson downgraded by Berenberg after US sales growth slows
Berenberg cut its recommendation on the shares to ‘hold’ from ‘buy’ and lowered its target price to 6,000p from 6,500p.
Ferguson jumps as US fund manager Trian reveals it has a amassed a near 6% holding in the plumbers’ merchant
“Trian believes that Ferguson is an attractive business that trades at a discount to comparable US peers,” said the US group, which is run by veteran activist investor Nelson Peltz
Investments and investor services
Maistro shares to become just a blurred memory
A look at the day's major movers, including Great Western Mining, Majestic Wine, Ascent, Ferguson and Just Group
Ashtead could be the next company sunk by record US rainfall
Since the start of 2019, areas of the US have been enduring multiple months of flash flooding as torrential rainfall has engulfed large portions of the Midwest and the South
Ferguson unveils buyback as softer US sales disappoint
Revenue growth softened to 6.2% in the third quarter from 8.2% in the first half of the year.
Investments and investor services
FTSE 100 closes higher as trade tensions ease
The UK's index of leading shares finished the first day of the trading week around 46 points higher at 7,378
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Tesco to provide the nibbles as the markets continue to eye US trade and Tory leadership battles
Aide from Tesco's latest update, a number of lesser-known blue chip firms will also report in the Week Ahead including British American Tobacco, Ferguson, DS Smith, and Halma
Investments and investor services
FTSE 100 closes in positive territory, boosted by better-than-expected US March jobs figures as Brexit uncertainty continues
Mid-cap cousin FTSE 250 was also lower, shedding around 56 points at 19,507
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Lloyds and other ex-dividends to knock 11 points off FTSE 100 on quiet Thursday in the City
Away from the ex-divs, Saga, Electrocomponents and EntertainmentOne are all due to come to the market with trading updates or results
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US jobs to provide main focus, though UK PMIs still key as Brexit SNAFU continues
Aside from the UK and US data - and Brexit - corporate news in the week ahead will include updates from blue-chip budget airline easyjet and Ladbrokes Coral owner GVC Holdings
Ferguson sell-off overdone, says JP Morgan as it upgrades rating after first-half results
JP Morgan raised its rating on Ferguson to ‘overweight’ from ‘neutral’ and left its target price at 5,950p
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FTSE 100 ends near flat; Prime Minister May says she will resign once Brexit deal passed
Mrs May reportedly told MPs that she will resign before the next phase of the Brexit negotiations.
Ferguson to shift headquarters to the UK as it sees profits at lower end of market forecasts
"After a strong revenue performance in the first half our growth rate has moderated recently in line with conditions in our markets,” said chief executive John Martin
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FTSE 100 closes higher as global growth fears ease, but Carnival shares sink
The UK's premier index closed up nearly 19 points at 7,169, while FTSE 250 added over 96 at 8,896
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Fizzy drinks on the table as Fevertree Drinks and AG Barr both provide updates
Aside from the fizzy drinks firms, the Day Ahead will also bring updates from plumbing and heating products supplier Ferguson and North West Water firm United Utilities