Member Info for Sparks21

Not exciting but on target. Slow and steady which is probably what the market wants from a business like this. Nice to see cost inflation levelling off.

Hi Archery. Most people on here will likely agree that diversification de-risks your investments. Funds do that for you in abundance.

Foxtons gains most of it's income from rentals. Landlords need a local company to manage lets. AI can't replace that. When selling, Agents are still required to meet and show buyers the property, collect feedback, negotiate etc. AI can't do that either. AI might disrupt the sites (like Rightmove) that advertise the sales and lets but apart from speeding up admin I don't see it disrupting the Foxtons model.

On a positive note: The Euro bloc's trade surplus with the US fell 38% on-year to EUR9.3 billion in December, with exports to the US down 13% to EUR37.1 billion and imports up 1.6% to EUR27.8 billion.

The trade deficit with China widened 9.4% to EUR26.8 billion, as exports rose 12% to EUR18.4 billion and imports increased 10% to EUR45.2 billion.

If Europe is importing more from Asia, it means:

- Asian factories are busier

- Asian incomes stabilise

- Asian consumer confidence improves

- Wealth product demand rises

- High‑net‑worth flows resume

That’s exactly the backdrop PRU needs for a 2026 earnings acceleration. I've topped up here today and yesterday. This drop looks overplayed to me.

I’m predicting an operating profit of 380m after tax and increased interest payments for the full year that gives a forward PE of 13.5. With a Mcap of 5.2B and net assets of 7.8B I see this as a good time to top up, which I did, on a company that appears to be about to move on from the bottom of its cycle. If I wasn't balls deep in house builders I'd be going in harder!!

The margin must be being squeezed. Not great.

Decent update from Bellway today: "Bellway also highlighted that it was on track to achieve its full-year volume target of around 9,200 homes as it pointed to "clear signs of improving customer demand" in the early weeks of the spring selling season."

Starmer holding firm should also keep the BOE on target for interest rate cuts. I'm expecting this to breach 112 this week or next all being well.

Starmer isn't going anywhere imo! Info on UK construction sector:

Tim Moore, economics director at S&P Global Market Intelligence, said: "January data provided encouraging signs that the UK construction sector has exited its tailspin, and firms are becoming more hopeful that new projects will get back on track in 2026.

"The latest reduction in total industry activity was the slowest since last June. Commercial work outperformed, with activity moving close to stabilisation amid a post-Budget boost to contract awards. Housebuilding weakness persisted, although even here the rate of decline eased considerably since December and was the least marked for three months.

"Construction companies noted subdued underlying demand due to fragile client confidence and elevated risk aversion, but there were some reports of improving investment sentiment and greater sales enquiries at the start of the year. As a result, business activity expectations rebounded to an eight-month high, while the pace of job losses moderated."

Citigroup raises B&M European Value Retail price target to 180 (165) pence - 'neutral'

Deutsche Bank Research cuts YouGov price target to 370 (438) pence - 'buy'

Not a lot of chat on this board so I'll just add the thoughts from my chat with AI:

This is one of the most constructive, confident RNS updates THRL has issued in years.

The key signals:

- Portfolio quality is improving

- Operator risk is falling

- Rent collection is back to normal

- Balance sheet is strong

- Acquisitions are accretive

- Dividend is covered

- Management is signalling controlled expansion

If they execute well, this could mark the start of a multi‑year rebuild in:

- NAV

- earnings

- dividend resilience

- and market confidence

This is the kind of RNS that often precedes a slow but steady re‑rating.

Good buying pressure today and a 7% rise. Perhaps this is partly due to some juicy dividend re-investments going through.

Interesting article about how low the EU gas storage is and how the incentive to fill is absent due to the potential lower gas prices forecast for the summer. The NAV here has dropped I imagine, primarily because long term gas prices are forecast to be lower. Perhaps the need to fill storage over the summer will support prices. I imagine the weakening dollar is also keeping LNG prices lower too, also weakening our NAV. I feel these pressures are baked in now and the stabilisation of share price supports that.

https://www.reuters.com/markets/commodities/europes-gas-storage-is-draining-prices-reflect-no-urgency-bousso-2026-01-29/

Revenue growth, primarily from acquisitions, has not led to margin or profit growth. The markets obviously don't like this but it's not surprising given all the additional costs they face. Reducing costs, reducing debt and growing the margin have to be the focus now. I believe they will hit 80 to 90 in the next 6 to 12 months and I will patiently wait for that to happen while taking a nice dividend along the way.

Fascinating, how unpredictable, the market can be. Topped up here at 60p. The RNS was operationally positive but financially unconvincing.

The market wanted:

- A guidance upgrade

- Clear debt reduction

- Stronger margin commentary

- Evidence of accelerating profit recovery

It got none of those — so the shares sold off.

Personally, I believe debt will continue to be reduced, margin will improve and profit will recover. It's a slow burner but it burns none the less.

Government backs British pubs with a major package of support on business rates and licensing reform, recognising the challenges they face and important role they play in local communities.

Pubs will get a 15% cut to new business rates bills from April followed by a two-year real-terms freeze, as well as a review into the method used to value them for business rates. This is on top of support announced at Budget.

Nice to be able to top up at this level.

Couple of Broker reiterations today. Price is pushing up close to 188.

Topped up at 1284. Can't see why oil price won't drop back now NATO is safe.

Jets go up and down and this one is on the dam tarmac, waiting for clearance from air traffic control to take off.

I second interactive investor. They are actually dropping their monthly fee to £14.99 and it's £3.99 a trade with a free trade every month. You can also have free family accounts then too I believe. If you don't trade much then you might have pretty much zero trading fees. I also use HL although their love affair with Neil Woodford has left a bad taste in my mouth!