Hints and tips:
...Windsor joined Abrdn in October after holding the same role at housebuilder Persimmon. He previously worked at insurance group Aviva for more than a decade....
...In other words, it’s not what Persimmon said, but how it said it....
...Persimmon had warned its sales could fall as much as 40 per cent in 2023....
...The watchdog said it had launched an investigation into Barratt, Bellway, Berkeley, Bloor Homes, Persimmon, Redrow, Taylor Wimpey and Vistry....
...Clark’s soon-to-be-former-employer Persimmon expects 2023’s full-year results to be ahead of guidance, and Taylor Wimpey expects its results to be at the top end of forecasts....
...In a separate update on Tuesday, Crest Nicholson said chief executive Peter Truscott, who joined in 2019, was stepping down to be replaced by rival Persimmon’s chief commercial officer, Martyn Clark, later...
...Berkeley’s update comes after large housebuilders Persimmon and Taylor Wimpey both flagged easing build costs last month....
...Rival Persimmon also reduced production while increasing prices last year, and trading updates from other players may reveal more of the same thing. But does the strategy work?...
...Its update comes this same week as rival developer Persimmon flagged “a strong pick-up” in home sales in October, while data from mortgage lenders Halifax and Nationwide showed month-on-month house price...
...If our thesis on house prices is correct, Persimmon looks like a recovery play....
...Persimmon’s chair Roger Devlin said housebuilders would likely fall behind government targets for new housing supply....
...In the rebalance, asset manager Abrdn, insurer Hiscox, manufacturer Johnson Matthey and housebuilder Persimmon will leave the FTSE 100 and enter the FTSE 250....
...Elsewhere, Persimmon, the FTSE 100 housebuilder, said pre-tax profit had fallen to £151mn in the first half, from £440mn in the previous comparable period, as the number of new homes it completed fell....
...Its shares slid 5 per cent in early trading on Thursday, dragging down other UK housebuilders including Persimmon, Taylor Wimpey, Vistry Group and Bellway, which all fell between 2 per cent and 4 per cent...
...Persimmon did not announce details of its new dividend policy....
...FTSE 100 housebuilders Persimmon and Taylor Wimpey said this week that sales of new houses were trending around 20 to 30 per cent lower year on year....
...Now is the time to buy UK plc.” Others argued that the UK remained a value trap for investors....
...FTSE 100 developers Taylor Wimpey, Persimmon and Barratt Developments all said in updates this week that they would ease up on buying new land and developing it....
...Greggs also revealed that Nigel Mills, former chair of corporate broking at Citi and a current director at Wood Group and Persimmon, has been appointed to the board....
...The signs of improvement in a tough housing market sparked a mini-rally among UK housebuilders, with shares in Barratt, Persimmon, Bellway and Redrow all up about 2 per cent in morning trading, outpacing...
...Redrow on Friday became the latest large builder to warn of a sharp contraction in sales, echoing rivals Persimmon and Taylor Wimpey, which this week reported significant falls in the rate at which buyers...
...Vistry’s share price is down by around 28 per cent over that period, Persimmon’s 34 per cent....
...Rivals like Taylor Wimpey and Persimmon are also down between 50 and 60 per cent this year....
...The watchdog opened cases against four developers — Countryside Properties, Taylor Wimpey, Barratt and Persimmon — in 2020....
...Redrow and Persimmon have built very few; Barratt, Berkeley and Bellway have built a lot.”...
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