SIG expects profit to increase on British residential construction January 9, 2014 BUILDING materials supplier SIG has said it expects full-year underlying pre-tax profit to be no less than £85.8m, helped by cost cuts and a recovery in the British residential construction market. SIG, which supplies insulation products, materials for roofs, and interior fittings, said it expected construction activity in the UK residential market to remain buoyant, [...]
West Ham move questioned after Balfour contract January 6, 2014 CONSTRUCTION group Balfour Beatty has won a £154m contract to convert London’s Olympic stadium into a facility that will be the permanent home for West Ham football club, prompting renewed questioning of the financial wisdom of the deal. The firm said it would transform the Stratford centerpiece of the 2012 Games into a venue that [...]
Position your portfolio for a cautiously optimistic 2014 January 6, 2014 Large cap success, a stronger dollar, risky bonds, and volatility should be key themes DESPITE troubles in emerging economies, 2013 proved to be a strong year for developed economy equity markets. And while remaining cautious about the coming months, investors also have reason to be optimistic about 2014. With economic data improving, corporate earnings better-than-expected, [...]
UK construction sector sees eighth month of growth January 3, 2014 There's more good news for the UK construction sector, as it continues its onward march, expanding for the eighth month in a row in December. The Markit/CIPS puchasing managers' index for UK construction PMI came in at 62.1 (62.6 November), above expectations of 62.0 and buoyed by a further big rise in housebuilding. Tim Moore, [...]
UK construction sector sees eighth month of growth January 3, 2014 There's more good news for the UK construction sector, as it continues its onward march, expanding for the eighth month in a row in December. The Markit/CIPS puchasing managers' index for UK construction PMI came in at 62.1 (62.6 November), above expectations of 62.0 and buoyed by a further big rise in housebuilding. Tim Moore, [...]
FTSE 100 reshuffle day: Here’s who’s in and who’s out December 20, 2013 A couple of changes on the FTSE 100 today, as decisions from last week's quarterly review come into effect today, with the benchmark index welcoming Royal Mail and Ashtead into its ranks. Whilst high-profile Royal Mail made it onto the blue chip list, fellow stock market debutant Merlin – who owns Madame Tussauds – only [...]
Stansted says it will keep growing despite Davies thumbs down December 17, 2013 STANSTED executives were stoic yesterday after the airport was left off the shortlist for a new runway. The airport, which was taken over by Manchester Airports Group in February, had set out plans to build a second runway – and Boris Johnson had talked up the site’s prospects as a five-runway hub. However, Sir Howard [...]
Letters to the Editor – 18/12 – Airport capacity, End of teaching, Best of Twitter December 17, 2013 Airport capacity [Re: Boris Island misses out on new runway shortlist, yesterday] An airport at the Thames Estuary is the most logical option, and it is disappointing that the proposal was excluded from the Davies Commission’s shortlist yesterday. We need to accept that the alternatives present too many complications. The political and environmental obstacles to Heathrow [...]
BP signs $16bn agreement to develop new gas field in Oman December 16, 2013 FTSE 100 oil major BP yesterday said it has signed 30-year sales and production sharing agreements with Oman’s government to develop the Khazzan gas field. It is hoped that the project – which is estimated to cost around $16bn (£9.8bn) – will become a major new source of gas for energy-hungry Oman over the next [...]
Ed Miliband’s attack on developers ignores why housebuilding is in crisis December 16, 2013 ED MILIBAND was right to identify the housing affordability crisis as one of Britain’s most important policy challenges in his speech yesterday. Sadly, his mixed bag of proposals (expanding urban council boundaries, a 200,000 annual home-building target and fines for “land hoarders”) does not address the fundamental reasons why developers are not supplying the market [...]