Houses, energy and shops

London stocks were cautiously mixed in early deals as traders took pause after a frenetic week of interest-rate decisions and the UK Budget. This followed a positive overnight session on Wall Street.

“High-end housebuilder Berkeley has cast doubts over the Government’s response to the housing market,” says AJ Bell Investment Director Russ Mould.

“Berkeley’s shares were down in early trading as the group noted a slowdown in the market for £2m-plus properties. Berkeley expects full-year results to be at the top end of forecasts but criticised the property tax regime which it described as one of the world’s highest following changes to stamp duty. It also warned the Government that the surcharge on second homes and buy-to-lets would have a knock-on effect on social mobility and the supply of new homes.

“Good Energy’s revenues rose as customer numbers increased by 44% in 2015. But pre-tax profits were hit by the cost of servicing £54m-worth of debt and higher administrative expenses. The underlying momentum is upward, though, with earnings rising by 28%.

“Property developer Capital & Regional has increased its presence in Hemel Hempstead with the purchase of a third town centre property. Fareham House is next to both the Marlowes shopping centre and Edmonds Parade which it bought in February. Capital & Regional can now consolidate all three into a single dominant town centre scheme which would provide 340,000 sq. ft. of retail space and 1200 car parking spaces.”

These articles are for information purposes only and are not a personal recommendation or advice.