Market Commentary - Housing, Infrastructure, Construction and Services 1st June 2017
Student accommodation developer and contractor Watkin Jones (WJ) reported its first half numbers to end March 2017 this morning. Capita is creeping slowly upwards and crept faster than anyone else yesterday, 2.8% to 583p. At the other end of the table Interserve crept down a further 2% to 224p and was the largest faller.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 31st May 2017
Telford Homes and Styles and Wood, the former a London property developer and the latter a specialist contractor have provided new information this morning. Galliford Try’s analysts’ dinner last night was helpful. The moves yesterday were in a very narrow band with Compass, the leader, up 1.1% to 1661p, a new record level and the largest faller Kier down just 1.2% at 1255p on a large number of trades at 558,596 shares transacted.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 30th May 2017
The only formal item of news this morning is the appointment of John Tonkiss as COO at McCarthy and Stone. Moves on Friday last saw Morgan Sindall soar to greater heights rising 6.2% to 1274p on 159,908 shares traded. The sector performed broadly in line with the market’s 7% rise last week. It therefore remains up around 11% overall versus the market up by 6.5%.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 26th May 2017
There is no formal RNS news this morning in the HICS sector. In the absence of news we thought it worth highlighting the recent trend to new money going into housing in new ways. The moves yesterday were in a relatively tight band with Capita falling by 31p to 546p, 5.4% but of that fall 20.6p can be ascribed to the stock going XD with its final dividend payment for 2016. Kier got some support yesterday and was our best performer rising 1.1% to 1246p having been a tad friendless in recent months.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 25th May 2017
Updates from two small sector companies, Van Elle the piling contractor and Henry Boot the developer and contractor, point to market conditions remaining positive. Van Elle’s update is to its year end 30th April. It came out with a small warning on 22 March due to workflow timing in Network Rail but that has not changed further and the year has started well with new work arising in all division. Henry Boot has told us quite early in the year that it expects to exceed previous market expectations for the current year, especially as by its own admission it is a transactions led business and timings are not always in its control.
Read more...Market Commentary - Housing, Infrastructure, Construction and Services 24th May 2017
There is a substantial amount of news today from Babcock with its finals, Ibstock and Polypipe with AGM updates, HSS has issued a Q1 trading update and Berendsen has issued a punchy rejection of the approach from Elis that includes forecasts for operating profit for this year and next.
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