Housebuilding stocks traded higher as restrictions on the property market were lifted. Coinciding with the shift in guidance, allowing estate agents to open and home viewings to take place, Taylor Wimpey (TW.), up 1.5% to 148p, has announced plans to open up show homes and site offices from 22 May as it progresses beyond a phased return to sites which began at the beginning of May. Elsewhere ...

Bowling centre operator Ten Entertainment (TEG:AIM) has unveiled plans to reopen sites. Having shored up its finances and cut costs, management have moved to prepare to adapt to operate in 'new normal' conditions. The large spaces that the business operates from will be configured to make them ‘Covid secure’ while protective equipment and hygiene materials have been secured to protect ...

Heating and plumbing supplies firm Ferguson (FERG) was the top performer in the FTSE, up 3.9% to £61.99 despite posting a downbeat trading update for the third quarter to the end of April. While trading was in line with expectations to the middle of March, the ‘unprecedented action taken by governments to contain the COVID-19 virus’ caused ‘adverse trading conditions within the group's ...

London’s FTSE 100 traded down 55.4 points or 0.92% to 5,939.35 early on Wednesday as investors continued to fret about a potential second wave of COVID-19 infections as lockdowns ease and data showed the British economy slumped in March. UK gross domestic product shrank 5.8% in March, although that was better than market expectations of a 7.9% contraction. In corporate news, Ferguson ...

Mobile operator Vodafone (VOD) jumped in early trade on Tuesday after reporting largely in line full year results and, vitally, sticking to its €0.09 per share dividend promise. Investors are clearly hugely relieved given the large numbers of FTSE 100 companies to cut or axe shareholder payouts thanks to coronavirus cash flow pressures. PAYOUT SURVIVES ‘Such is investors’ thirst ...

Global audio products group Focusrite (TUNE:AIM) reported a 23.5% jump in first half revenues to £49.9m, bolstered by acquisitions. Adjusted operating profit fell 12% to £6.4m as costs increased. Investors responded to the results, for the six months to 29 February 2020, by marking the shares more than 3% lower to 580p. BUYING GROWTH Many may be wondering why organic growth has ...

Shares in web-based white goods retailer AO World (AO.) cheapened 3% to 83p on Tuesday, despite news that the Bolton-headquartered company had increased sales and grown market share since COVID-19 lockdown measures went into effect. The shares had ticked higher in recent sessions, with investors possibly anticipating lockdown-induced forecast upgrades for the online laptops-to-TVs ...

Shares in ‘Big Four’ grocery chain Morrisons (MRW) gained 3% to 195p after the firm posted a 5.7% increase in group like for like sales excluding fuel in the three months to 10 May. Retail sales contributed 5.1% to the increase, while wholesale revenues contributed the remaining 0.6%. Fuel sales were down 39% on a like for like basis during the quarter, and down roughly 70% since the ...

UK stocks inched higher on Tuesday in anticipation of the government setting out details on how to make workplaces ‘Covid secure’ and restart the economy. The FTSE 100 index of leading stocks added 28 points or 0.5% to 5,968 led by telecoms and retailers, while travel stocks and property companies limited the gains. Mobile operator Vodafone (VOD) helped support the index, rising 3.7% to ...

Global manufacturer of automotive fluid carrying systems and tanks, TI Fluid Systems (TIFS) reported a 16% fall in first quarter revenues to $717m, but confirmed the payment of the final 2019 dividend. The shares  nudged up 1% to 172p. STILL OUTPERFORMING The business continued to perform better than underlying global light vehicle production, which saw a 23% drop in activity in the three ...