Join our Investor Webinar on the 3rd December 18:00-19:30, with speakers from Sunda Energy and Blencowe Resources. Please register here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksBarratt Developments Share News (BDEV)

Share Price Information for Barratt Developments (BDEV)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 482.10
Bid: 482.40
Ask: 482.60
Change: 0.80 (0.17%)
Spread: 0.20 (0.041%)
Open: 482.20
High: 486.00
Low: 478.90
Prev. Close: 481.30

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: Pound falls, housebuilders rise after BoE remarks

Thu, 03rd Oct 2024 11:50

(Alliance News) - Stock prices in London were mixed at midday on Thursday, with grocers outperforming, while housebuilders headed higher after dovish comments from Bank of England Governor Andrew Bailey.

The FTSE 100 index was up 21.96, 0.3%, at 8,312.82. The FTSE 250 was down 18.71 points, 0.1%, at 20,765.07, and the AIM All-Share was down 0.26 of a point at 734.04.

The Cboe UK 100 was up 0.2% at 831.77, the Cboe UK 250 was down 0.1% at 18,219.81, and the Cboe Small Companies was up 0.1% at 16,794.09.

In European equities on Thursday, the CAC 40 in Paris was down 0.8%, while the DAX 40 in Frankfurt was down 0.5%.

The pound was quoted at USD1.3114 at midday on Thursday in London, dropping sharply from USD1.3271 at the equities close on Wednesday.

In an interview with the Guardian, Bailey said he was watching developments in the Middle East "extremely closely" and that there were limits to what could be done to prevent the cost of crude rising if things "got really bad".

Bailey also held out the prospect of the bank becoming a "bit more aggressive" in cutting interest rates provided the news on inflation continued to be good. "I think the economy has come through the shocks of the last five years better than many of us feared," he added. "So there's a base there to develop."

Housebuilders topped the FTSE 100, given the outlook for lower interest rates which would incentivise house buying.

Persimmon rose 2.8%, Barratt climbed 2.1%, Vistry was up 2.3% and Taylor Wimpey added 2.1%.

Supermarkets were also strong during midday trade following a positive update from Tesco, which rose 3.3%.

The Welwyn Garden City, England-based grocer now expects to deliver around GBP2.9 billion in retail adjusted operating profit for the financial year ending in February, up from previous guidance of "at least GBP2.8 billion" before. This will compare to GBP2.76 billion in financial 2024.

Pretax profit from continuing operations rose 20% to GBP1.39 billion in the 26 weeks to August 24 from GBP1.16 billion a year prior. Revenue from continuing operations climbed 3.5% to GBP31.46 billion from GBP30.40 billion.

Tesco also lifted its interim dividend 10% to 4.25p from 3.85p.

"We are in good shape, with volume growth delivering strong financial performance," said Chief Executive Ken Murphy.

As noted AJ Bell investment director Russ Mould, the "healthy" dividend hike shows Tesco's confidence heading into the critical Christmas trading period. "This is underpinned by strong cash generation, which is also enabling Tesco to invest in the business and compete effectively on price," he added.

"Its focus on value is clearly getting customers through the doors and the tills ringing and, alongside measures like its Clubcard discounted prices, should help to engender loyalty. A fairly astonishing 23 million households now have a Clubcard membership," Mould continued.

Fellow grocers Marks & Spencer rose 1.6% while Sainsbury's gained 1.5%.

Meanwhile, Phoenix Group fell 5.0%, as its stock went ex-dividend.

Among London's small-cap stocks, VP fell 8.0%.

The specialist equipment rental services issued a profit warning, citing "market headwinds" in Construction and Housebuilding.

It was a better day for Atrato Onsite Energy's stock, which rose 20%.

The London-based renewable energy investment trust has agreed to sell the entirety of its solar assets portfolio at a headline price of GBP218.7 million. If the deal is approved by shareholders and takes place, the firm plans to seek shareholder approval for a voluntary liquidation. Its net assets would then be distributed back to shareholders.

Chair Juliet Davenport explained that the decision comes amid a "backdrop of persistently wide share price discounts in the investment trust sector, the subscale nature of the company and consistent shareholder feedback to sell the portfolio".

Across global equity markets, investors are also focusing on developments in the Middle East, in anticipation of Israel's retaliation against Iran.

Brent oil was quoted at USD75.28 a barrel at midday in London on Thursday, up from USD74.05 late Wednesday.

"Brent crude has settled around USD75/bbl for now, but any military strike, particularly one targeting Iran’s oil or nuclear infrastructure, could trigger a significant spike. The US is reportedly working behind the scenes to prevent this escalation, knowing full well that such a strike could ignite a much broader conflict," said Stephen Innes, SPI Asset Management.

Gold was quoted at USD2,645.83 an ounce, down slightly against USD2,650.17.

Stocks in New York were called lower. The Dow Jones Industrial Average and the S&P 500 index both called down 0.4%, and the Nasdaq Composite was called down 0.5%.

The dollar was somewhat firmer, ahead of the afternoon's economic data from the US. The euro stood at USD1.1037, down against USD1.1046. Against the yen, the dollar was trading at JPY146.88, up compared to JPY146.06.

"Overnight the yen fell as new prime minister Shigeru Ishiba dampened recent speculation about an interest rate hike from the Bank of Japan. This helped give other Asian markets a lift," noted AJ Bell's Mould.

Still to come on Thursday's economic calendar, there's a data drop from the US, including initial jobless claims, factory orders, and the S&P Global and ISM services PMIs.

By Elizabeth Winter, Alliance News deputy news editor, Global services

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
4 Oct 2024 19:12

IN BRIEF: Barratt Developments becomes Barratt Redrow after clearance

Barratt Developments PLC - Leicestershire, England-based housebuilder - Announces change of name to Barratt Redrow PLC. Comes after UK Competition and Markets Authority approves merger with Redrow. Trading under the new name starts Monday. Further, appoints Matthew Pratt as Chief Executive Officer, Redrow and Group Executive Director. Pratt is currently the Chief Executive of Redrow. Geeta Nanda and Nicky Dulieu are appointed Non-Executive Directors.

Read more
4 Oct 2024 13:02

Barratt Developments receives CMA clearance for Redrow merger

(Alliance News) - Barratt Developments PLC on Friday announced it has received clearance from the UK Competition and Markets Authority for its merger with Redrow PLC.

Read more
4 Oct 2024 12:19

CMA accepts undertakings, clears Barratt acquisition of Redrow

(Sharecast News) - Barratt Developments announced on Friday that the UK Competition and Markets Authority (CMA) had cleared its acquisition of Redrow, following a consultation on undertakings offered by both companies.

Read more
3 Oct 2024 11:55

LONDON MARKET MIDDAY: Housebuilders boost FTSE amid declines elsewhere

(Alliance News) - Dovish remarks from Bank of England Governor Andrew Bailey helped to boost the FTSE 100's housebuilders on Thursday at midday, while grocers rose following a strong interim showing from Tesco.

Read more
26 Sep 2024 15:13

London close: Stocks rise as US jobless claims reach four-month low

(Sharecast News) - London markets ended Thursday on a positive note, as investors reacted to a four-month low for US jobless claims, and renewed support measures from China.

Read more
23 Sep 2024 09:40

LONDON BROKER RATINGS: UBS raises Kingfisher, starts B&M at 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

Read more
19 Sep 2024 14:31

UK dividends calendar - next 7 days

Friday 20 September 
abrdn Asia Focus PLCdividend payment date
Barclays PLCdividend payment date
Berkeley Group Holdings PLCspecial divident payment date
BP PLCdividend payment date
Empiric Student Property PLCdividend payment date
Entain PLCdividend payment date
Glencore PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hikma Pharmaceuticals PLCdividend payment date
Informa PLCdividend payment date
Man Group PLCdividend payment date
National World PLCdividend payment date
OSB Group PLCdividend payment date
Reach PLCdividend payment date
Samuel Heath & Sons PLCdividend payment date
Segro PLCdividend payment date
Speedy Hire PLCdividend payment date
St James's Place PLCdividend payment date
Triple Point Energy Transition PLCspecial divident payment date
Vaalco Energy Incdividend payment date
Monday 23 September 
Quilter PLCdividend payment date
Rotork PLCdividend payment date
Shell PLCdividend payment date
XPS Pensions Group PLCdividend payment date
Tuesday 24 September 
Hiscox Ltddividend payment date
Supreme PLCdividend payment date
Wednesday 25 September 
CK Infrastructure Holdings Ltddividend payment date
CRH PLCdividend payment date
Harbour Energy PLCdividend payment date
Northern Bear PLCdividend payment date
Sabre Insurance Group PLCdividend payment date
Thursday 26 September 
abrdn Diversified Income & Growth PLCex-dividend date
Advanced Medical Solutions Group PLCex-dividend date
Alfa Financial Software Holdings PLCex-dividend date
Alpha Real Trust Ltdex-dividend date
Alumasc Group PLCex-dividend date
Bank of Georgia Group PLCex-dividend date
Barratt Developments PLCex-dividend date
Braime Group PLCex-dividend date
Braime Group PLC Aex-dividend date
Breedon Group PLCex-dividend date
Brickability Group PLCdividend payment date
British American Tobacco PLCex-dividend date
Central Asia Metals PLCex-dividend date
Computacenter PLCex-dividend date
Diverse Income Trust PLCex-dividend date
Equals Group PLCex-dividend date
Fevertree Drinks PLCex-dividend date
FIH Group PLCex-dividend date
Fintel PLCex-dividend date
Fletcher King PLCex-dividend date
FRP Advisory Group PLCex-dividend date
Gore Street Energy Storage Fund PLCex-dividend date
Hargreaves Services PLCex-dividend date
HgCapital Trust PLCex-dividend date
JPMorgan European Growth & Income PLCex-dividend date
JTC PLCex-dividend date
Lowland Investment Co PLCex-dividend date
LSL Property Services PLCex-dividend date
Mercantile Investment Trust PLCex-dividend date
Miton UK Microcap Trust PLCex-dividend date
Molten Ventures VCTdividend payment date
Petershill Partners PLCex-dividend date
Petershill Partners PLCex-dividend date
RHI Magnesita N.V.dividend payment date
Rightmove PLCex-dividend date
Rio Tinto PLCdividend payment date
Ruffer Investment Co Ltdex-dividend date
Schroders PLCdividend payment date
Secure Trust Bank PLCdividend payment date
STV Group PLCex-dividend date
System1 Group PLCex-dividend date
UIL Ltdex-dividend date
Wynnstay Group PLCex-dividend date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
18 Sep 2024 11:10

Legal & General sells UK housebuilder CALA Group in $1.8 bln deal

LONDON, Sept 18 (Reuters) - Legal & General has sold its UK housebuilder CALA Group in a deal worth 1.35 billion pounds ($1.78 billion) to an acquisition vehicle led by U.S. private assets firm Sixth Street Partners, as the latter steps up its European investment drive.

Read more
18 Sep 2024 09:50

LONDON BROKER RATINGS: Goldman Sachs likes Aviva, cuts Phoenix Group

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

Read more
16 Sep 2024 12:13

Henry Boot completes sale of 491 Coventry plots to David Wilson Homes

(Alliance News) - Henry Boot PLC on Monday announced it has completed the sale of 491 residential plots at its Pickford Gate site in Coventry to the David Wilson Homes division of national housebuilder Barratt Developments PLC.

Read more
9 Sep 2024 16:02

London close: Stocks rebound from last week's losses

(Sharecast News) - London's markets finished in a positive state on Monday, recovering from heavy losses at the end of last week after a disappointing US non-farm payrolls report.

Read more
9 Sep 2024 08:49

TOP NEWS: Barratt forms Made Partnership with Lloyds and UK government

(Alliance News) - Barratt Developments PLC on Monday said it has entered into a joint venture with lender Lloyds Banking Group PLC and the UK government's housing and regeneration agency Homes England.

Read more
9 Sep 2024 07:05

Barratt, Lloyds Bank, Homes England form JV for large housing projects

(Sharecast News) - Barratt Developments, UK government agency Homes England and Lloyds Bank have formed a joint venture master developer platform that will focus on large sites to deal with Britain's housing shortfall.

Read more
5 Sep 2024 16:59

LONDON MARKET CLOSE: Stocks on the back foot ahead of nonfarm payrolls

(Alliance News) - Stocks faded into the close on Thursday to end in the red weighed by a drop in index heavyweight AstraZeneca on a day of mixed news for blue-chips.

Read more

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.