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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barratt Developments    BDEV   GB0000811801

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FTSE inch up but Persimmon update hits housebuilders

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11/08/2017 | 06:27pm CEST
FILE PHOTO:A sign displays the crest and name of the London Stock Exchange in London

LONDON (Reuters) - Britain's top share index inched up on Wednesday supported by gains among heavyweight consumer and commodity stocks, while housebuilders were dragged lower by a disappointing update from Persimmon.

The UK blue chip FTSE 100 <.FTSE> index rose 0.2 percent at 7,529.72 points, while mid caps <.FTMC> were flat.

Among consumer stocks that added most points to the FTSE were Unilever (>> Unilever) and British American Tobacco (>> British American Tobacco), up 1.4 and 2 percent respectively, while gains in oil major Royal Dutch Shell <RDSa.L> and miner Rio Tinto (>> Rio Tinto) also helped.

Paper and packaging firm Mondi (>> Mondi) rose 2.3 percent after Morgan Stanley moved its rating on the firm to "overweight" from "equal weight".

Shares in housebuilder Persimmon (>> Persimmon) fell 3.5 percent, the worst-performing on the FTSE 100, after it issued a disappointing trading statement.

Persimmon depressed the whole sector, with Barratt Development (>> Barratt Developments), Taylor Wimpey (>> Taylor Wimpey), Bovis Homes (>> Bovis Homes Group), Crest Nicholson (>> Crest Nicholson Holdings PLC) and Redrow (>> Redrow plc) also falling.

"We continue to see stiffening headwinds for the housebuilders from a softening market climate with a much weaker pricing outlook, rising costs and a loss of confidence in pricing by both buyers and estate agents," Shore Capital analysts said.

Shares in Marks & Spencer (>> Marks & Spencer Group) rose 1.6 percent at the end of a volatile session after the grocer reported results.

The company posted a lower-than-expected fall in first-half profit and said it would accelerate its turnaround plan and open fewer Simply Food stores than previously planned.

"You've got a slightly weaker UK consumer possibly coming through in one or two of the retailers' results," Hargreaves Lansdown analyst George Salmon said, adding that upcoming results from Halfords (>> Halfords Group plc) and Sainsbury (>> J Sainsbury) would shed more light on this theme.

Shares in utility SSE (>> Scottish and Southern Energy) slipped 0.8 percent after agreeing to merge its UK retail activities with German energy group Innogy (>> Innogy SE).

SSE also reported half-year figures, which included an 8 percent drop in profit due to weakness in its networks business.

Some analysts were cautious about the merger announcement.

"Although the idea of a spin-off is understandable, we highlight that both businesses vary significantly in outlook and the industry's track record in integrating service and billing systems is poor," analysts at Jefferies said in a note.

"The move could also result in a rebasing of SSE's dividend and impairment for Innogy."

Outside of large caps, Wizz Air (>> Wizz Air Holdings PLC) dropped 9.3 percent after reporting results, with the focus on concerns over ticket pricing trends.

Wizz Air's CEO also said it was interested in acquiring airport slots at London Luton from failed airline Monarch.

(Reporting by Kit Rees; Editing by Raissa Kasolowsky/Mark Heinrich)

By Kit Rees and Danilo Masoni

Stocks mentioned in the article
ChangeLast1st jan.
BARRATT DEVELOPMENTS -1.63% 505.4 Delayed Quote.-21.95%
BOVIS HOMES GROUP -2.04% 998.2 Delayed Quote.-14.83%
BRITISH AMERICAN TOBACCO 1.80% 3331 Delayed Quote.-33.62%
CREST NICHOLSON HOLDINGS PLC -1.49% 318 Delayed Quote.-41.65%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
HALFORDS GROUP PLC -0.32% 316 Delayed Quote.-9.66%
INNOGY SE 0.16% 38.46 Delayed Quote.17.70%
J SAINSBURY 0.13% 305.4 Delayed Quote.26.51%
MARKS & SPENCER GROUP -1.91% 292.8 Delayed Quote.-6.99%
MONDI 0.33% 1800 Delayed Quote.-6.78%
PERSIMMON -1.69% 2211 Delayed Quote.-19.25%
REDROW PLC -1.28% 539 Delayed Quote.-17.65%
RIO TINTO 1.69% 3736.5 Delayed Quote.-5.21%
SCOTTISH AND SOUTHERN ENERGY 1.93% 1137 Delayed Quote.-13.86%
SEA LTD (ADR) 2.51% 13.09 Delayed Quote.-1.80%
SPECTRA ENERGY CORP. -0.78% 40.68 End-of-day quote.0.00%
TAYLOR WIMPEY -1.58% 158.6 Delayed Quote.-23.16%
UNILEVER 1.84% 4003.5 Delayed Quote.-2.96%
WIZZ AIR HOLDINGS PLC 2.45% 2525 Delayed Quote.-31.39%
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Financials (GBP)
Sales 2019 4 951 M
EBIT 2019 900 M
Net income 2019 714 M
Finance 2019 751 M
Yield 2019 8,68%
P/E ratio 2019 7,27
P/E ratio 2020 6,85
EV / Sales 2019 0,88x
EV / Sales 2020 0,86x
Capitalization 5 125 M
Duration : Period :
Barratt Developments Technical Analysis Chart | MarketScreener
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Technical analysis trends BARRATT DEVELOPMENTS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 6,59  GBP
Spread / Average Target 30%
EPS Revisions
David Fraser Thomas Group Chief Executive Officer & Executive Director
John Murray Allan Chairman
Steven John Boyes Group Chief Operating Officer & Executive Director
Jessica Elizabeth White Chief Financial Officer & Executive Director
Richard John Akers Senior Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
D.R. HORTON-26.32%14 298
SEKISUI HOUSE LTD-20.73%10 216
PERSIMMON-17.86%9 344