Fund managers and housing stocks plunge in wake of Standard Life property fund suspension
Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
Company
LON:BWY
Bellway PLC is a holding company. The Company, through its subsidiaries, is engaged principally in house building in the United Kingdom. The Company is a volume house builder selling primarily in the private market and trading nationally in areas of high population. It also acquires and sells second hand homes taken in part exchange.
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Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
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The broker moves both recruiters Hays PLC and Michael Page International to 'sell' from 'hold'.
The bank says the stock appears affected by downward momentum as underlying sales are falling at a crucial time.
Investments and investor services
Deutsche analyst David Lock said Tuesday’s share price rally was not justified by the bank’s revenue outlook or forecasts through to 2018 – Weir Group Plc, Cobham Plc and the UK house builders were also in the broker spotlight.
Investments and investor services
Eden Research raises a glass to the Spanish authorities for green-lighting its wine grape protection product.
Builders and building materials
The group sold 4,188 (3,754) houses and flats in the six months to January
A look at next week's agenda, and there are some big names reporting...
A look at next week's agenda, and there are some big names reporting...
A look at next week's agenda, and there are some big names reporting...
A look at next week's agenda, and there are some big names reporting...
All the large cap miners fell into the red on Friday
Trading statements are expected from Bellway and Polar Capital.
The Bank of England's Monetary Policy Committee is expected to leave its base rate unchanged; the question is, how many committee members will vote for change?
Analysts expect the European Central Bank (ECB) to cut the eurozone's cost of borrowing
Next week, the Organization of the Petroleum Exporting Countries (OPEC) will meet.
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Companies covered: William Hill, Paddy Power, house builders, Shire, Standard Chartered, Ryanair
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If there is a housing market downturn on the cards, broker heavyweight JP Morgan Cazenove by certainly doesn't see it...
Investments and investor services
Global markets have been in a malaise all day after dismal Chinese trade data on Tuesday.
China's imports fell about a fifth in September, data showed
Below are the main news-driven share price movements at 4pm.
Investments and investor services
Data showed China's imports falling a fifth, down for the 11th month in a row
Builders and building materials
Bellway sold a record 7,752 homes in the year to July 31
Bellway and UK inflation will be in the news on Tuesday...
Next week looks busy on both the macro and corporate front, kicking off with a round of Central Bank speeches on Monday, including from the USA and Canada.
Investments and investor services
The US jobs report could give a pointer to when the starting pistol will be fired on the cycle of interest rate rises
Archive
What else would you expect but chatter on the web about The Great British Bake-Off, flip-flops, chocolate and mortgage repayments.
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Footsie was twelve points lower at 6,735 aged of non-farm payrolls.
Builders and building materials
The availability if mortgage finance has helped buoy business, the company reported.
The top-share index saw the week's gains roughly halved
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UK shares are poised to open a bit firmer on Friday.....
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Another UK house builder is set to update investors on trading on Friday in a sector which is showing good strength.
Investments and investor services
HSBC and Standard Chartered are often bracketed together because of their focus on Asian markets, and they continue their double-act this week.
Investments and investor services
Sirius Minerals was boosted by the news it will not face a public inquiry while Bellway led the fallers on the FTSE 100 on fears of a Bank of England interest rate hike.
Anglo American, Premier Oil, House builders, Asos and Smith & Nephew are all in the broker spotlight
Risers & Fallers budget special: featuring Drax, Aldermore, OneSavings Bank, Shawbrook, Virgin Money, Lloyds, Barclays, HSBC, RBS, Aviva, and all the housebuilders
British American Tobacco, Bellway, Randgold and Ophir are under the broker spotlight
Investments and investor services
Scaffolding specialist Billington was climbing high after saying half year results would be significantly ahead of market expectations.
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Building industry data help to build trader confidence despite Greece
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Eurogroup rules out more talks with Athens until after referendum
Investments and investor services
Investors seem to be prepared to accentuate the positive, with the FTSE 100 set to open 34 points to the good, taking the blue-chip index back above 7,000.
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We're a bit light on scheduled reports from multi-national leviathans this week, but some well-known national names - such as Dixons, Halfords and Bellway - are expected to report.