FTSE Rises, Home Builders Advance After Mixed Sector News



Homebuilders on the rise after news from the mixed sector

UK home builders are making modest gains after mixed industry news, with bullish trade statements from Redrow and Vistry Group offsetting news of falling home prices. Redrow, listed on the FTSE 250, is up 2.8% after forecasting an increase in annual revenue and reporting strong second-half trading and higher sales. Meanwhile, Vistry said the first half trade exceeded her expectations. Persimmon is the industry’s leading player, up 1.1%, followed by Berkeley Group Holdings, Barratt Developments and Taylor Wimpey. Still, average UK house prices fell 0.5% in June, the first monthly drop since January, mortgage lender Halifax said. “This may be the first sign that home price growth is starting to falter,” said Lucy Pendleton, real estate expert at independent real estate agent James Pendleton.

Companies News:

Woodbois 1H revenue increased amid wood and veneer production growth

Woodbois Ltd. said Wednesday its performance for the first half of the year was strong, driven by revenue growth, as well as increased production of sawn timber and veneer.

BBGI Global Infrastructure to raise £ 50million

BBGI Global Infrastructure SA said on Wednesday that it would raise around 50 million pounds ($ 69 million) through a discounted equity offering.

Third quarter assets under management of Impax Asset Management increased

Impax Asset Management Group PLC said on Wednesday that assets under discretionary management and advice for the third quarter of fiscal 2021 had increased.

Foxtons group chairman retires

Foxtons Group PLC said on Wednesday that Chairman Ian Barlow plans to step down from the board once a successor is found, but no later than December 31.

Redde Northgate Increased Pre-Tax Profit for Fiscal Year 2021; Confident for Fiscal Year 2022

Redde Northgate PLC said on Wednesday that pre-tax profit for fiscal 2021 increased thanks to higher revenue and merger synergies, and that it was well positioned for further growth in the coming year.

Wincanton’s strong 2-hour sales performance continues into the new fiscal year

Wincanton PLC said on Wednesday that the strong revenue performance of the second half of FY2021 has continued into the first quarter of FY2022 and is trading as expected.

K3 Capital to acquire two consulting firms and raise £ 10million

K3 Capital Group PLC on Wednesday announced the acquisition of consulting firms, Knight Corporate Finance Group Ltd. and Knight R&D Ltd., and intended to raise £ 10 million ($ 13.8 million) to fund the transaction.

Ten Entertainment returns to profitability and increases sales after site reopens

Ten Entertainment Group PLC said on Wednesday it had returned to cash generation and profitability since its centers reopened.

Arena Events Fiscal 2021 pre-tax loss reduced thanks to lower costs

Arena Events Group PLC said on Wednesday that its pre-tax loss had narrowed in fiscal 2021 after reserving lower costs, and that fiscal 2022 will be a year of transition to full normalcy as events begin. to allow a certain level of spectators.

KKV secured loan to return £ 10.6million to ordinary shareholders

KKV Secured Loan Fund Ltd. said on Wednesday he had decided to return 3 pence per share, with a current value of 10.6 million pounds ($ 14.6 million), to common shareholders.

Advanced Medical Solutions 1H Revenue, Adjusted Pre-Tax Profit Expected to Increase

Advanced Medical Solutions Group PLC said on Wednesday it continued to recover from the effects of the pandemic in the first half of the year, with revenue and adjusted pre-tax profit expected to increase significantly.

Enteq’s upstream loss for fiscal 2021 was reduced due to lower one-off costs

Enteq Upstream PLC reported a reduced loss for the year on Wednesday, although its adjusted profit fell significantly.

Octopus Renewables raises £ 150million through share issue

Octopus Renewables Infrastructure Trust PLC said on Wednesday it had raised 150 million pounds ($ 207 million) in a share issue.

Quartix Technologies warns against cash flow affected by supply constraints

Quartix Technologies PLC said on Wednesday that it expects lower cash flow for the first half of the year as it faces challenges in sourcing electronic components, but is on track to meet expectations. consensus for 2021.

i3 Energy to acquire Cenovus Energy for $ 52.2 million; Fall in shares

i3 has raised £ 40million to fund the transaction.

Circle Property posted to pre-tax loss for fiscal 2021

Circle Property PLC said on Wednesday it moved to a pre-tax loss for fiscal 2021 after recording a loss on the revaluation of investment properties, but fiscal 2022 has started well.

Tribal Group confident in growth plans for 2021 after contract award

Tribal Group PLC said on Wednesday it had won its first two contracts for its recently launched Tribal Admissions module, giving it confidence in achieving its growth aspirations for 2021 and beyond.

Market Talk:

UK house prices should not correct the decline

0910 GMT – UK house prices have fallen on a monthly basis for the first time since January in June, but that doesn’t mean the housing market boom is over, according to EY Item Club. Halifax reported a 0.5% month-on-month drop in house prices in June, while annual growth slowed to 8.8% from May’s 14-year high of 9.6%. “It was still very strong by past standards – prices increased an annual average of 4.5% from 2015-19 – and left average prices GBP 21,000 higher than a year earlier “said EY economist Martin Beck. A correction in house prices is unlikely in the short term due to the relatively good financial situation of households, changing housing preferences, very low mortgage rates and a strong economic recovery, says -he.

UK CPI is expected to rise sharply in the coming months

08:48 GMT – The UK consumer price index is expected to rise around 4% towards the end of the year after rising 2.1% in May, said Paul Dales, UK chief economist at Capital Economics. The index will rise further due to weak base effects from 2020 and higher prices for raw materials and components which are scarce. Companies are likely to pass some of these price increases on to customers, he says. However, the rise in consumer prices is expected to be temporary, Dales says. “We still believe that this will be a brief, sharp rise in inflation that will not fuel ever faster wage growth or higher inflation expectations for a few years,” he said. he declares.

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

(END) Dow Jones Newswires

July 07, 2021 05:31 ET (09:31 GMT)

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