Bovis Homes is bucking a sector trend, +4.2% this morning and back close to November’s record high. Investors are embracing its Jan trading update, at odds with how they digested this week’s statements from bigger peers Persimmon (Tues; -1% a day all this week), Taylor Wimpey (Weds: -4%) and Barratt Developments (Thurs: -2.7%). This is…
On a grim day for UK grocers, shares in the UK’s #1 supermarket Tesco are down this morning, towards the bottom of the pile on a notable Christmas sales miss. CEO Dave Lewis’ strategy implementation is yielding results – 2017 saw strongest Christmas sales since former head Leahy’s departure in 2010 – however the negative…
Shares in Taylor Wimpey (TW.) find themselves towards the back of the UK 100 today, falling for the second consecutive day and as much as 5% after the Housebuilder released its Q4 trading statement this morning. The general sentiment of TW’s trading statement today echoed that of peer Persimmon’s (PSN) yesterday, reiterating the uncertain backdrop for the…
Shares in grocer J Sainsbury have failed to emulate smaller peer Morrisons, the former opening a mere 1.8% higher this morning, compared to the latter’s 5% jump yesterday. The more muted response to its Xmas trading statement (15 weeks to Jan 6) can be pinned on a host of reasons that require digging into the results. Only…
The UK high street is under pressure like never before, under attack from rising constraints on consumer credit, an increasing inflationary pinch on pockets as a result of slow wage growth, and the growing threat of online retailers. Facing considerable pressure from short positions amassed by institutional investors, many onlookers have begun to weigh up…
Shares in grocer Morrison top the UK 100 this morning after a Xmas trading statement that easily beat expectations (total like-for like sales ex-fuel +2.8% vs +1.8% est.), challenging even last year’s tough comparables, thanks to strong UK consumer spending during the festive period. Reassuringly, we saw stronger than forecast contributions from both the Retail…