House builder Persimmon’s share price has risen five-fold in the last five years, and today’s trading statement is likely to continue the feel-good factor.
The housing market has been booming during that five year run and the victory of the Conservative Party in the general election, which staved off the threat of a tax on house-holders whose property had soared in value, has just added fuel to the fire.
One of the keenly watched indicators in Persimmon’s second quarter statement will be visitor numbers to the company’s sales sites; the average selling price achieved in the first half of the year will also give an indication of the health of the market.
On the economic front, the non-farm payrolls data from the US will, as ever, be closely watched. The market is expecting around 230,000 jobs to have been added in June.
Significant announcements expected
Finals: Scholium Group (LON:SCHO)
Trading statement: Persimmon (LON:PSN)
The following widely-held companies are trading ex-dividend on Thursday: Direct Line Insurance, ICAP, Homeserve, Tate & Lyle, Royal Mail, British Land, BP, Burberry, Dairy Crest Group, De La Rue, Coca Cola HBC.
Economic: UK – Nationwide house prices, Markit/CIPS construction PMI. US – Non-farm payrolls.