The government’s decision to extend the Help to Buy scheme for newly-built homes until 2020 has triggered a new rally in housebuilding stocks. Persimmon (PSN), Bovis Homes (BVS) and Taylor Wimpey (TW.) are the biggest risers among the FTSE large caps as investors like the idea that there will be prolonged financial assistance to buy new-build properties. Read this article to see which other stocks are benefiting from the news.
Just Eat, an online portal for ordering takeaway food, confirms months of rumours that it will join the stockmarket. The business plans to raise £100 million of new money and several existing shareholders are expected to sell down some of their holdings. It is targeting an April debut on London's main market. We take a closer look at the news here.
Oil explorer Cairn Energy (CNE) falls 3% to 191.1p as it confirms its Juby Maritime-1 well offshore Morocco has encountered heavy oil. The well will be plugged and abandoned without further testing. This is the second disappointing result so far this year for Cairn from its exploration efforts off the coast of the North African country.
The fast pace of growth at electronics repair group Regenersis (RGS:AIM) means that debt is rising and profit falling due to investments and extra working capital requirements, as illustrated in its half-year results. Yet revenue is soaring ahead, so too the dividend with a 97% year-on-year increase to 1.32p per share. Having initially risen at the market open, the share price has since reversed, falling 3.2% to 346.5p. Regenersis features in the latest issue of Shares as a Play of the Week.
Shares in cash shell One Delta (ONE:AIM) are suspended pending the release of documents detailing its planned acquisition of Audioboo which lets users record audio clips and share them on the internet. UBC Media (UBC:AIM) will see its 39% stake in Audioboo fall to 20% upon completion of the deal. UBC is also suspended pending the purchase of 7digital; today it reveals an exclusivity period until 4 April and the signing of heads of terms for the acquisition.
Microcap maker of 'green' electric-powered scooters Vmoto (VMT:AIM), a trade on Chinese domestic consumption, accelerates 6.3% to 2.18p on a positive trading statement. Over 2,000 Vmoto scooters were sold in China in the first two months of 2014, up 20.3% year-on-year.
Luxury interior furnishings maker Walker Greenbank (WGB:AIM) is marked 1p higher at 193.5p on news that the Sanderson brand has launched a wallpapers and fabrics collection in collaboration with pottery designer Emma Bridgewater.
Medical technology play Angle (AGL:AIM) rises 5% to 93.5p on submitting its Parsortix cell separation system to the US Food and Drug Administration. The company expects a decision by the end of September on its cancer-detection device being able to be sold in the US.
Unconventional hydrocarbons play Rose Petroleum (ROSE:AIM) gains 13.9% to 0.66p as it pays $2 million to farm-in to assets in Utah. Brokered by its US team the transaction will see Rose carry partner Rockies Standard Oil Company on two drilling programmes in the Mancos and Cane Creek shale plays costing a combined $17 million. This will require the company to secure extra funds.
Investors are unsure on Caracal Energy's (CRCL) all-paper deal to acquire Canadian rival Transglobe Energy (TGL:TSX) which gives the group exposure to Egypt and is expected to create an entity a current combined oil production of 25,100 barrels of oil equivalent per day (boepd) and a target average of 31,000 to 34,000 boepd this year. The shares fall 2.4% to 400p and while the tie-up provides country diversification from Caracal's previous exclusive focus on Chad, Egypt has been very unstable.