Lettings, flights and gold

The FTSE 100 slipped into negative territory in early trading as the oil supply shake-up, price volatility and potential impact on global growth continued to unsettle investors. Wall Street registered steady gains overnight Friday, while Asian markets were mixed albeit the Hang Seng is closed to celebrate the Ching Ming Festival.

“The British love affair with home ownership is as strong as ever but despite government schemes to help people on to the property ladder, the demand for rented homes also remains high and Belvoir Lettings is reaping the benefits,” says AJ Bell Investment Director Russ Mould.

“Belvoir is one of the UK’s largest property franchises and currently manages more than 37,000 residential properties. But as it estimates that this is less than 1% of the market, there is significant scope for expansion. This view is shared by investors with Belvoir’s shares up in early trading on the back of its full year results which showed a 19% rise in revenues.

“Ryanair increased its passenger numbers in March despite a three-day strike by French aviation unions. Ryanair’s March traffic was up 28% and the load factor increased from 90% to 94%. 

“Landore Resources’ shares soared following a significant gold find on its Junior Lake property in Ontario. Follow-up drilling has confirmed a 30-plus metre wide gold mineralisation zone close to the surface which could be developed as a low cost, bulk tonnage mine.”

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