Broker snap: Credit Suisse softens view on housebuilders
21st May 2009 11:30
After being bearish on the housebuilding sector since the second half of 2007, Credit Suisse now thinks the sector might have turned the corner. Improving economic data, some signs of life in the UK housing market, plus attractive valuations for many housebuilding stocks has prompted the Swiss bank
Read moreLondon close: Footsie takes a dive
13th May 2009 16:31
Footsie gave up its recent indecisive spell to dive into the red after an unexpected fall in US retail sales tempered recent talk that we are on the cusp of an economic recovery. Financial shares were the worst performers in London, not helped by disappointing trading updates from Legal & General a
Read moreLondon afternoon: US retail sales data jolts London
13th May 2009 14:28
Poor US retail sales figures prompted a quickening in the decline of blue-chip prices in London. US retail sales had been expected to rise in April but unexpectedly fell, bringing in to doubt hopes that the US economy is on the mend. Financial shares are the worst performers in London, not helped b
Read moreLondon midday: Miners and properties slide
13th May 2009 12:04
After a moderately firmer start, London's leading shares quickly turned lower in the morning session, with mining shares and properties weighing heavily on the FTSE 100 index. Property giant Land Securities saw its net asset value slashed by two-thirds in 2008 in what it described as 'unprecedented
Read moreLondon open: Footsie slips on big results day
13th May 2009 08:40
It's a big day for company announcements, but investors seem unimpressed so far with Footsie off a few points despite good numbers from J Sainsbury, Compass and L&G. Strong demand for its 'basics' range has helped supermarket giant J Sainsbury deliver better than expected full year profit. Underlyi
Read moreLondon pre-open: Modest lift seen at outset
13th May 2009 07:43
Encouraged by Wall Street's late rally yesterday London looks set to open on a positive note. Expectations are for the FTSE 100 to rise around 20 points at the outset. Strong demand for its ‘basics’ range has helped supermarket giant J Sainsbury deliver better than expected full year profit. Underl
Read moreBarratt orders see improvement
13th May 2009 07:24
Housebuilder Barratt's order book has risen by 70% since the start of 2009, but the group is still cautious over the market with demand held back by lack of mortgage availability. Orders rose to £778.2m equating to 5,253 plots up from £455.8m and 3,529 plots at 1 January 2009. Of the current forwar
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