Stephen Rawlinson
27 April 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 27th April 2017

It’s a big day for news with AGM related trading updates across the patch including Berendsen, Taylor Wimpey and Persimmon. Q1 trading updates from Howden Joinery, Countrywide and Travis Perkins have added to a busy morning. The trend in the last week has been for there to be far more risers than fallers in the HICS sector and stock prices are creeping upwards. That trend is not wholly consistent with the increased level of uncertainty now faced by UK companies in terms of the home market.

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Stephen Rawlinson
26 April 2017 · 1 min read

Market Commentary - Housing, Infrastructure, Construction and Services 26th April 2017

Forterra announced that the Lonestar shares had been placed a few days ago and today Ibstock has announced that the remaining private equity holdings in its shares have been placed. CRH has updated the market ahead of its AGM today. We are visiting the Stewart Milne modular housing factory this morning.

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Stephen Rawlinson
25 April 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 25th April 2017

News from three companies provides interesting read across, Havelock Europa (fit out specialist), Carpetright and Vp, the hire company. Serco was the class act yesterday, up 3.8% to 117.9p. Our view has been consistent; inside the operations there is a great company emerging with the right values and systems in place.

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Stephen Rawlinson
24 April 2017 · 2 min read

Market Commentary - Housing, Infrastructure, Construction and Services 24th April 2017

Bovis, Interserve, Civitas and Mortice have all released small items of news today that are relevant to them and have read across. The sector performed relatively well last week, down just 1.0% against the market down by 2.6%. The strength of Sterling versus the US $ caused some changes in views on earning which were purely technical, FX related, rather than a comment on business performance.

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Stephen Rawlinson
21 April 2017 · 1 min read

Market Commentary - Housing, Infrastructure, Construction and Services 21st April 2017

The main (and only substantial) item this morning is that the Atkins board has agreed to accept 2080p a share and is recommending it to shareholders, the T&Cs having been settled. The week has been quiet for most companies and sector observers and there are few planned announcement for next week. Rentokil did announce today that it has won the Queen’s Award for Enterprise for International Trade in its Pest Control division but we figured that would not move the dial much on the share price; there is much other good stuff in the company that will, as we have stated.

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Stephen Rawlinson
20 April 2017 · 1 min read

Market Commentary - Housing, Infrastructure, Construction and Services 20th April 2017

It’s all pretty quiet this morning with no company news to report. Balfour Beatty, Tyman and Barratt Developments trade XD today with the first two having final dividends at 1.8p and 7.5p respectively and the interim pay out from BDEV at 7.5p. SIG was the best performer yesterday rising 3.0% to 116.9p, its highest close since October last year.

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