It has been a mixed reporting season for housebuilders so far this summer, with Bellway (BWY) reporting better-than-expected completions and pricing while MJ Gleeson (GLE) talked of a housing market 'lacking confidence' and with no signs of a short-term catalyst for a substantial improvement. Just as Shares is published (10 July), Vistry (VTY) is due to update the market, and the market will...

Housing market 'lacks confidence' Sales delayed by planning issues June 2026 profit seen at low end There wasn't much respite for investors in Sheffield-based housebuilder MJ Gleeson (GLE), despite the firm insisting in its latest trading update it would deliver on its medium-term growth plans. The shares dropped as much as 26p or 7% to a new 12-month low of 362p, taking losses since the start...

After drifting steadily lower for the last five years, it looks as though the FTSE 350 Household Goods & Housebuilders index has turned the corner this year. Admittedly, sentiment took a big hit from the MJ Gleeson (GLE) profit warning on 3 June, but it recovered a week later thanks to an upbeat report from rival builder Bellway (BWY) on 10 June. Gleeson blamed 'headwinds' in the new-build...

New-build market weaker than hoped Lack of land sales to impact earnings Planning delays mean fewer completions Low-cost housebuilder MJ Gleeson (GLE) delivered an unexpected profit warning on Tuesday (3 June) saying 'headwinds' in the new-build market and a lack of disposal gains meant it would miss its full-year margin targets. The shares, which had traded more or less sideways since...

MJ Gleeson (GLE)Price: 495pMarket cap: £280 millionWe originally tipped MJ Gleeson (GLE) at 438p back in May 2023, which wasn't quite the low but was in time to catch the run all the way up to 650p last October.Today, the shares may not be quite as cheap as they were two years ago, but the outlook is clearly a lot better, not just for Gleeson but for the whole housebuilding sector. SOLID...

MJ Gleeson director sellsJudges Scientific director sells 25,791 sharesBalfour Beatty CFO sells after strong annual share gainsChristopher Mills, non-executive director of affordable house builder MJ Gleeson (GLE) has sold 300,000 shares at 610p for a total value of £1.83 million on 4 October.The sale was made by the North Atlantic Smaller Companies Investment Trust (NAS) where Mills is the...

Stock prices in London were in the red on Tuesday morning as weak UK retail data and company updates overshadowed optimism after a tech rally on Wall Street.The FTSE 100 index had opened higher before returning early gains, and edging into the red by 0.29 of a point at 7,693.90. The FTSE 250 was down 85.57 points, 0.4%, at 19,308.23, and the AIM All-Share was down 0.56 of a point, 0.1%, at...

As headlines go, last week's Nationwide house price report showing prices down at their fastest annual rate since 2009 takes some beating even if a decline was more or less expected by experts.The building society's August survey showed the average house price was 0.8% lower than the previous month and 5.3% lower than August 2022 at £259,153, marking an annual fall of around £14,600 on the...

June's larger-than-expected half percentage point interest rate rise has pushed the FTSE 100 index back into negative territory for the year and triggered fears of recession among investors and market observers.Moreover, there seems little doubt the UK central bank will raise rates again at its August meeting, the only question being by how much.'It now appears that interest rates may go...

Barratt Developments and MJ Gleeson offload propertiesBoth deals worth tens of millions of poundsSales should support earnings in difficult yearIn what looks like a shrewd business move, two UK housebuilders announced they had signed multi-million-pound deals to sell large portfolios of homes to institutional investors, sending their shares higher.Barratt Developments (BDEV) shares gained 1%...

There are a few chinks of light starting to shine through for the UK housebuilding sector which has been under a heavy cloud for some time.Companies are reporting modest improvements in sales rates and the latest Nationwide housing market survey showed a surprise 0.5% month-on-month rise in prices after seven consecutive months of falls.These nuggets, together with suggestions we might see a...

- Berenberg downgrades housebuilders- Affordability to increase to 50% of income from 35%- Medium-term the sector looks more attractiveUK housebuilders have had a difficult 2022 driven by fears of recession and higher interest rates impacting the sector. Year-to-date share price declines range from 25% at Berkeley (BKG) to almost 50% at Persimmon (PSN).Investment bank Berenberg published a...

- Results seen 'significantly ahead' of estimates- Prices and volumes driven by strong first time-buyer demand- Substantial pipeline of future developmentsSheffield-based MJ Gleeson (GLE) became the latest house builder to surprise the market with news that its full year results would be well ahead of market forecasts.Everything seems to be going the company's way at the moment, with strong...

Despite having generated more than three times the return of the FTSE All-Share index over the past 10 years (304% versus 100% respectively), North Atlantic Smaller Companies Investment Trust (NAS) remains under the radar of most investors.Those already owning the shares are rarely willing sellers, says manager Christopher Mills. 'A lot of our shareholders have been with us forever. We started...

Shares in the major housebuilders traded higher after positive results and an increase in earnings guidance from their smaller rivals Redrow (RDW) and MJ Gleeson (GLE), bringing some relief to beleaguered shareholders.Redrow shares gained 2% to 637p after issuing new forecasts for its 2024 financial year while MJ Gleeson shares were 1% higher at 733p after the firm said results for the year to...

In the same way investors can make a mint by backing a mythical '10-bagger' early doors, fund fanatics can make big gains by catching an investment trust on the way up, before it begins its rise through the market capitalisation ranks and potentially even joins the likes of Scottish Mortgage (SMT), 3i (III) or Pershing Square Holdings (PSH) in the FTSE 100.We can never know with certitude...

UK stocks edged higher in early dealings on Monday, despite a drag from inflation-related fears, as local businesses continued to report a bounce back in trading activity following the easing of lockdowns.At 8.36 am, the benchmark FTSE 100 index was up 0.3% at 7,040.12 points, while the more domestically-focused FTSE 250 was 0.1% higher at 22,420.15.The FTSE 100 traded higher despite miners'...

UK shares added to their recent gains with the FTSE 100 index tacking on another 25 points or 0.4% to 6,549 in early trading as corporate results continued to inspire buying.The pound pulled back from its recent peak of almost $1.39 to $1.382 while Brent crude futures held their ground above $61 per barrel and gold continued to lag other metals, trading at $1,840 per ounce.COMPANY...

UK stocks pushed unconvincingly into positive territory at lunch time on Thursday while European bourses remained in the red.With Brexit negotiations front and centre, France warned that it could use its veto vote to block a deal if it doesn't like the terms, heaping more pressure on the talks as they approach their climax.At 12:00 the FTSE 100 was a smidge higher at 6,471 points. NEWS...

Housebuilder Persimmon (PSN) gained 5.2% to £25.60 after it followed up yesterday's sector boost from the increased stamp duty threshold with a positive trading update.By the end of June the company confirmed it had returned to the build levels from before the pandemic.It reported 'encouraging' sales levels as forward sales of new homes reached £1.86bn by 30 June, up 15% on last year and its...