Persimmon and Barratt Developments among those flying higher after a triple dose of good news for the builders
A raft of broker upgrades, some Brexit cheer and the strong performance of one of the sector's minor players helped boost sentiment
Company
Persimmon PLC
LON:PSN
Persimmon is a house building company, which has been trading since 1972, and operates under three main brands, Persimmon Homes, Charles Church and Westbury Partnerships.
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Builders and building materials
Crest Nicholson drops as JPMorgan Cazenove cuts its target price in sector review, noting near 20% rise in year-to-date
The US bank has reduced its target for the FTSE 250-listed firm to 400p from 440p, albeit with the stock currently trading at 354.20p, down 8.9% on Wednesday’s close
Persimmon to let customers withhold 1.5% of house prices until housebuilder resolves faults
"Persimmon is listening hard to all of its stakeholders and we hear the message that we need to continue to raise our game in customer care,” chief executive Dave Jenkinson
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FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
FTSE 100 closes lower after European Central Bank strikes downbeat note
"Brutal cuts from the ECB as GDP growth for 2019 is cut from 1.7% to 1.1%. With this in mind, it seems like any possible interest rate raises are all but completely ruled out until likely 2021," declared Jordan Hiscott, the chief trader at
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Insurers Aviva and Admiral in Thursday’s results spotlight
Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
FTSE 100 closes lower as Brexit is talk of the town
Footsie closed down around 32 points at 7,151, while the FTSE 250 added 23 at 19,270
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Standard Chartered to wrap up recent flurry of big bank results with charge-blurred numbers
Aside from the 2018 results from the emerging markets-focused bank, FTSE 100-listed housebuilder Persimmon and speciality chemicals blue chip Croda International will also report numbers
Persimmon shares hit by reports government may ban housebuilder from Help to Buy scheme
“This would be a big blow given that more than 50% of its private sales are Help to Buy,” said Neil Wilson, chief market analyst at Markets.com.
Investments and investor services
FTSE 100 closes higher but only just as sentiment boosted by trade progress
The UK blue-chip index finished around five points ahead at 7,183
Housing building triumvirate, Persimmon, Taylor Wimpey, and Bovis Homes to post 2018 results
Government schemes like help-to-buy and easier mortgage access have meant housebuilders have been able to boost revenues in recent years, but these external conditions are changing
Builders and building materials
Crest Nicholson weak as Redburn downgrades in otherwise positive UK housebuilding review
Redburn’s analysts said: “Popular commentary continues to paint the UK housing market as weak, but we view activity as remarkably resilient considering Brexit uncertainties"
Persimmon expects 2018 profits to be modestly ahead of market consensus, thanks to new developments
The FTSE 100-listed housebuilder said its total group revenues rose by 4% to £3.74bn in 2018, up from £3.42bn in 2017, as new housing revenues also increased by 4% to £3.55bn
Investments and investor services
FTSE 100 closes higher as attention focuses on House of Commons vote
FTSE 100 closed 40 points higher at 6,895, while the mid-cap FTSE 250 closed around 12 up at 18,429.
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Countryside Properties weak as JPMorgan cuts to ‘underweight’ on valuation grounds in upbeat housebuilders review
The US bank adjusted target prices for a number of other sector players, cutting those for Taylor Wimpey, Crest Nicholson PLC, and Bovis Homes, but raising the target for Redrow
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Persimmon and Boohoo will be in focus but Tuesday will be about Brexit
Parliament will finally vote on Theresa May's Brexit agreement, but, before that, Persimmon, BooHoo, Hays and Games Workshop will have announcements for the market.
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Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Persimmon and Taylor Wimpey flourish after American bank issues 'double-upgrades'
Its stance on the sector as a whole as also become 'less negative'
Investments and investor services
FTSE 100 closes in red but nudges higher on the week; housebuilders gain on day
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
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FTSE 100 closes higher as traders optimistic on China/US talks breakthrough
The UK blue-chip benchmark added around 45 points at 6,906, while FTSE 250 surged even higher.