viewBarratt Developments

Market report: FTSE bounces back along with UK housing market

The FTSE 100 opened upbeat this Wednesday following a strong performance over on Wallstreet. A short time ago it was up 74 points to 5936.

British house prices leapt to an all-time high in August, according to Nationwide who recognised a sharp rebound in the country’s housing market after the coronavirus lockdown.

Staying with housing, Barratt Developments (LON:BDEV) says it’s 'not the right time' for dividends despite strong demand with an increase of 62% in home completion volumes in the past eight weeks. But annual profits declined 46%. 

The Gym Group (LON:GYM) has posted a large loss for the first half of the year after being forced to close all its branches due to the coronavirus outbreak. Revenue plummeted almost 50% year on year. New joiners however was up 30%.

Among the small caps Thor Mining PLC (LON:THR) says gold assays from recent sampling at its Ragged Range project in Western Australia have “exceeded expectations”.

Live Company Group PLC (LON:LVCG) has signed a new contract in Israel for a BRICKLIVE tour that will run from October this year until next may.

Zoetic International PLC (LON:ZOE) has announced a deal to sell its legacy oil and gas assets located in Colorado.

And finally Zephyr Energy Plc (LON:ZPHR) told investors that part of its operations in Utah’s Paradox basin has been selected by the US Department of Energy for an assessment into energy.

Quick facts: Barratt Developments

Price: 625.8 GBX

Market: LSE
Market Cap: £6.37 billion

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