Tuesday July 1, 05:24 PM
Wednesday preview: Taylor Wimpey, Wood Group
LONDON (ShareCast) - With the Nationwide Building Society’s latest gloomy survey on the UK housing market still fresh in the memory, Taylor Wimpey (LSE: TW.L - news)
’s trading update will give some clues as to how the housing slump is affecting housebuilders. The heavily indebted builder was forced to respond to market rumours this week and confirm that it has instigated discussions with shareholders and other institutions regarding raising additional financing, which would most likely be via a placing and open offer. The company has also written off £660m from the carrying value of its land bank. This is in contrast to sector peer Barratt Developments (LSE: BDEV.L - news) , which said it expected only “limited” write-downs in the value of its land bank. Credit Suisse recently added to the gloom by predicting land price deflation of about 50% over the next two years if past trends are repeated. The investment bank said such a scenario could slice 46% from Taylor Wimpey’s net asset value. Oil services company John Wood Group (LSE: WG.L - news) gives its half year trading update just days after JP Morgan raised its rating on the stock to ‘neutral’ from ‘underweight’. The US broker lifted its price target for Wood Group to 510p from 390p in a review of European oil services companies. “The focus of attention has been on the big oils in the recent sector rally, but we still think the European services stocks offer some of the best upside and clarity of growth prospects in the broader sector,” the broker said. The company provided an appetiser to tomorrow’s trading update when it announced today it had been awarded three gas turbine component repair contracts worth in the region of $3m.
INTERIMS
Terrace Hill (LSE: THG.L - news) INTERIM DIVIDEND PAYMENT DATE
Numis Corporation (LSE: NUM.L - news) INTERIM EX-DIVIDEND DATE
Character Group (LSE: CCT.L - news) , Paragon Group Of Companies, Safestore, Sport Media Group, Wogen FINALS
Ashley House (LSE: ASH.L - news) , Block Shield Corporation (LSE: BLS.L - news) , ContentFilm (LSE: CFL.L - news) , Cybit Holdings, Digital Marketing (LSE: DIGI.L - news) , GTL Resources (LSE: 105821.L - news) EGMs
Millwall Holdings (LSE: MWH.L - news) , Carphone Warehouse (LSE: CPW.L - news) AGMs
Aurora Investment Trust, Energy Technique (LSE: ETQ.L - news) , Intercede Group, Liontrust Asset Managament, Lupus Capital (LSE: LUP.L - news) TRADING ANNOUNCEMENTS
Balfour Beatty (LSE: BBY.L - news) , CRH (Dublin: CRG.IR - news) , Taylor Wimpey, Wood Group FINAL DIVIDEND PAYMENT DATE
French Connection (LSE: FCCN.L - news) , Mears Group (LSE: MER.L - news) , Puma VCT (LSE: PUA.L - news) , Puma VCT II (LSE: PMV.L - news) , Puma VCT III (LSE: PUMC.L - news) , Puma VCT IV (LSE: PUMD.L - news) , Scottish Mortgage Investment Trust FINAL EX-DIVIDEND DATE
Assura Group (LSE: AGR.L - news) , Bisichi Mining (LSE: BISI.L - news) , Burberry Group (LSE: BRBY.L - news) , Cranswick (LSE: CWK.L - news) , Dee Valley Group (LSE: DVW.L - news) , E2V Technologies (LSE: E2V.L - news) , Eclipse VCT 2 (LSE: ECL2.L - news) , Establishment Investment Trust, Foreign and Colonial Global Smaller Companies, Hogg Robinson (LSE: HRG.L - news) , Hyder Consulting (LSE: HYC.L - news) , IFG Group (Dublin: IJG.IR - news) , Invesco English & International Trust, London & Stamford Property, M&G Rec Inv, Mitie Group (LSE: MTO.L - news) , ProVen Growth and Income, Proven VCT (LSE: PVN.L - news) , Pubs 'n' Bars, Puma Brandenburg (LSE: PUMA.L - news) , RCG Holdings, Rensburg AIM, Shires Inc., Synergy Healthcare (LSE: SYR.L - news) , Tate & Lyle, The Capital Pub Company (LSE: CPUB.L - news) , TR Property Investment Trust, Umeco (LSE: UMC.L - news) , Wynnstay Properties (LSE: WSP.L - news) , Yell Group (LSE: YELL.L - news) ECONOMIC
Bank of England housing equity withdrawal (first quarter), The Chartered Institute of Purchasing and Supply's survey on construction
|
Send Article by Email
