Advertisement
UK markets open in 25 minutes

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,734.07
    +449.53 (+2.60%)
     

  • CRUDE OIL

    83.99
    +0.42 (+0.50%)
     

  • GOLD FUTURES

    2,351.40
    +8.90 (+0.38%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • Bitcoin GBP

    51,516.22
    +83.50 (+0.16%)
     

  • CMC Crypto 200

    1,391.58
    -4.95 (-0.35%)
     

  • NASDAQ Composite

    15,611.76
    -100.99 (-0.64%)
     

  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

BUZZ-UK housebuilders: valuations looking stretched -Citi

Reuters - UK Focus

** UK housebuilders left nursing falls after Citi downgrades its ratings on a clutch of them on valuation grounds

** Persimmon (Other OTC: PSMMY - news) top FTSE 100 faller, down 3.9 pct, with midcaps Bellway & Barratt Developments down more than 2 pct after broker cuts trio to "neutral" vs "buy"

** Bellway (Other OTC: BLWYY - news) 's share price weakness comes even as co gives higher margin steer in a trading update

** Numis Securities also cuts its rating on Bellway - to "add" vs "buy" - to reflect recent share price run

** Sector at large had strong performance in 2014, with Thomson Reuters UK Homebuilding index up 23 pct YTD, & 17 pct QTD

ADVERTISEMENT

** Citi sees sector delivering another year of good growth in both earnings & net assets, with improving margins & returns in 2015

** Broker highlights balance sheets look very strong, with net cash in many cases (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)