UK housebuilders in focus today and results from Berkeley Group Holdings (LON:BKG) and FTSE 250 firm Redrow were music to the ears of those Brexiteers, who believe its business as usual, nay better than usual, in the post leave vote world.
It comes as traders trudge back to the desk for the autumn term.
Redrow plc (LON:RDW) delivered what it called a record set of numbers for the third consecutive year, with the average selling price up to £288,600 and pre-tax profit up 23% to £250mln.
Berkeley shares, meanwhile topped the Footsie leaderboard, up over 2.6% to stand at 2,760p. Both firms were in focus and of course were much talked about on Twitter.
Fantastic results from Redrow, div up 6p to 10p yet shares still 90p below 12mth high. When will message get through housebuilders are fine?
— Rodney Hobson (@RodneyHobson) 6 September 2016
It comes as the UK government increasingly becomes under pressure to spell out what exactly it has up its sleeve in regards to plans for Brexit. The Minister in charge of the withdrawal, David Davis, who spoke for two hours in the Commons, was told he was speaking waffle.
Fears of a recession were roundly pushed down yesterday however, as service sector data, confounded experts.
It is the highly dominant industry in the UK and sowed in August the biggest rebound in activity in 20 years.
If the establishment think they can stitch-up Brexit then they better be ready for the huge electoral consequences.
— Nigel Farage (@Nigel_Farage) 5 September 2016
Sports Direct (LON:SPD), always a talked about firm, holds its AGM tomorrow and the key topic in focus is whether they will vote against the board, increasingly seen as far removed from the shareholders.
Earlier this month, pensions and Investment Research Consultants , said shareholders should vote against the re-election of chairman, Keith Hellawell, and founder, Mike Ashley, over the retailer’s poor governance, among other factors.
It comes on Tuesday as it said it had uncovered "serious shortcomings" in its employment practices and was replacing "zero-hours" contracts.
The chain apologised following the legal review of the company's procedures, which had revealed the shortcomings. Sports Direct shares added over 6% to stand at 353p.
British retailer Sports Direct bows to investor concerns with governance review https://t.co/dWODjDD6fG pic.twitter.com/ATmb22ml9K
— Bloomberg (@business) 6 September 2016
Anyone missing stock market float news should dial into Telefonica today, which has revealed plans to list the O2 business.
It comes as Telefonica failed in its bid to merge with rival mobile network Three after it was blocked by European competition rules.
A big London riser was mobile phone content provider Mobile Streams Plc (LON:MOS), with shares popping over 181% after it reached the milestone of reaching 50,000 active subscribers in India.
The firm expects to add additional billing connectivity to the next three largest network operators in India before the end of 2016, which has the potential to increase the addressable audience from the current around 600mln mobile users to around 900mln users.