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Wednesday's agenda: Peel Hunt not expecting bad news from Bellway

Last updated: 05:06 26 Mar 2014 AEDT, First published: 06:06 26 Mar 2014 AEDT

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Wednesday sees interims from UK house builder Bellway (LON: BWYA) - part of a sector which has enjoyed a recent boost in market sentiment.

Broker Peel Hunt is not expecting any bad news from the firm, given the state of the housing market and the strong interim management statement (IMS) the company released last month.

Analyst Clyde Lewis at Peel Hunt, said: "Sales prices will have kept ahead of cost pressures but this is an area to keep an eye on over the next 12 months or so along with  the price of land."

The group is pushing "pretty hard" on volume growth by opening up two  new divisions, with first half volumes set to rise by 25% with a 15% plus rise expected for the full year, he reckons.

"Traditionally, the shares perform well around results as investors get reminded of the performance but low key market  profile thereafter holds it back," said the broker, which rates the stock a 'hold'.

Last week housebuilders got a boost as Chancellor, George Osborne, extended the Help to Buy 1 plan by another four years until 2020. 

An additional £6bn of government funding will be pumped into the scheme and helping to provide finance for an additional 120,000 homes.

Significant announcements expected:

Companies: Finals: Acta S.p.A. (LON:ACTA), Alliance Pharma (LON:APH), APR Energy (LON:APR), Chime Communications (LON:CHW), Dolphin Capital Investors Ltd (LON:DCI), EnQuest (LON:ENQ), Eurasian Natural Resources Corporation (LON:ENRC), Instem (LON:INS), IQE (LON:IQE), Michelmersh Brick Holdings (LON:MBH), Moss Bros Group (LON:MOSB), Marshalls (LON:MSLH), Paragon Entertainment (LON:PEL), Phoenix Group Holdings (LON:PHNX), SciSys (LON:SSY), ServicePower Technologies (LON:SVR), Vislink (LON:VLK). Trading Statement: Euromoney Institutional Investor (LON:ERM), Speedy Hire (LON:SDY), Topps Tiles (LON:TPT), TUI travel (LON:TT.). Interims: Bellway (LON:BWYA), Lamprell (LON:LAM), Leaf Clean Energy Company (LON:LEAF).

The following widely held stocks are trading in ex-dividend form on Wednesday: Schroders, Prudential, Segro, Ladbrokes, Bovis Homes, British Sky Broadcasting, Foreign & Colonial Investment Trust

Economic: EU: GfK German Consumer Climate, Italian Retail Sales, Italian Prelim CPI. US: Core Durable Goods Orders, Durable Goods Orders, Flash Services PMI.

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