FTSE Flat construction stocks drop after Grenfell reports

UK construction stocks drop after Grenfell reports

UK home builders are leading the FTSE 100 fellers after reports the UK government was looking for property developers to cover a greater portion of the costs of repairing dangerous apartment buildings after the Grenfell Tower fire in 2017. “Many apartment owners have found themselves with high costs to replace flammable coatings and the latest reports on who will foot the bill should come as no surprise to the industry,” said Russ Mold, director of investments at AJ Bell. In recent years, home builders have benefited from generous incentives, such as the Home Buyer’s Aid and the Mortgage Guarantee Program. However, state support is not one-sided. industry’s biggest high-flying loser, down 3.8%.

 
Companies News: 

Frenkel Topping acquires Cardinal Management, says 2021 was on target

Frenkel Topping Group PLC said on Monday it had agreed to acquire Cardinal Management Ltd. for up to £ 10million ($ 13.6million) and that its performance in 2021 was as expected.

Greencoat UK Wind purchases two wind farms; Secures the credit facility

Greencoat UK Wind PLC announced on Monday that it has completed the acquisition of the Windy Rig and Glen Kyllachy wind farms in Scotland and entered into an eight-year debt facility of £ 200m ($ 271.9m).

Bradda Head Lithium shares rise after Burro Creek purchases

The shares of Bradda Head Lithium Ltd. rose on Monday after he said he exercised his option to acquire a 100% stake in the Burro Creek project area and part of Burro Creek West for $ 600,000.

The value of the LXI REIT 3Q portfolio has increased; Target a higher dividend for the new year

LXI REIT PLC said on Monday that the value of its portfolio increased in the third quarter of fiscal 2022 and raised its dividend target for the new year.

TT Electronics to buy power and control business for £ 9million

TT Electronics PLC announced on Monday that it has purchased the electrical and control businesses of Ferranti Technologies Ltd. at Elbit System UK Ltd. for 9 million pounds ($ 12.2 million) in cash.

Impax Asset Management 1T Assets under management Rose

Impax Asset Management Group PLC said on Monday that assets under discretionary management and advice increased in the first quarter of fiscal 2022.

Likewise, increases by £ 2million via an open bid; The Board of Directors will propose an increase in the open offer

Likewise, Group PLC said on Monday that it had raised 2.0 million pounds ($ 2.7 million) through an open bid, and that the board of directors will propose that the open bid be increased.

Schroder European Real Estate receives almost all fourth quarter rents

Schroder European Real Estate Investment Trust PLC said on Monday that it received the majority of its rents for the last quarter of 2021.

Harvest Minerals 4T, 2021 Rose Organic Fertilizer Sales

Harvest Minerals Ltd. said on Monday that sales of its organic fertilizer, KP Fertil, increased in the fourth quarter, as well as 2021, and said a significant number of orders for 2022 had been placed by the end of 2021.

PCF Group appoints Simon Moore as President

PCF Group PLC announced Monday it has appointed Simon Moore chairman.

Nightcap 1H Net sales Rose; Opening of three new sites

Nightcap PLC said on Monday that its net sales for the first half of fiscal 2022 had increased and that it had opened three new locations.

Rolls-Royce appoints Rob Watson as president of electrical unit

Rolls-Royce Holdings PLC announced Monday that it has appointed Rob Watson to its management team as chairman of its electrical unit.

East Star Resources shares tumble after readmission of shares to LSE

Shares of East Star Resources PLC fell on Monday after its readmission to the London Stock Exchange and said it had raised gross proceeds of £ 3.1million ($ 4.2million) in a placement and a subscription.

JLEN Environmental Assets to sell two French wind farms for € 5.9 million

JLEN Environmental Assets Group Ltd. announced Monday that it had reached an agreement for the sale of two French onshore wind farms for 5.9 million euros (6.7 million dollars).

Vector Capital increases wholesale credit facilities to £ 35million

Vector Capital PLC said on Monday it had increased its wholesale bank debt by £ 5.0million ($ 6.8million) and that this brought the total wholesale debt facilities available to the group to £ 35million. .

BioPharma Credit to invest up to $ 150 million in Coherus

BioPharma Credit PLC announced Monday that it has agreed to invest up to $ 150.0 million in Coherus BioSciences Inc., a US-based biopharmaceutical company.

Genflow Biosciences goes public on the London Stock Exchange

Genflow Biosciences PLC announced on Monday that it plans to be listed on the London Stock Exchange and that the proceeds will be used to research the effect of the Sirtuin-6 gene mutation on the aging process.

Electric Guitar PLC applies to the list in London

Electric Guitar PLC announced on Monday that it had applied to be listed on the main market of the London Stock Exchange, with admission expected on Tuesday.

Tintra’s share price more than doubled with $ 3 million Premium subscription

Shares of Tintra PLC rose on Monday as the price more than doubled after the company said it raised $ 3 million through two subscriptions at a premium to the previous share price.

Electra Private Equity to rename itself as an unrelated group and be listed on AIM

Electra Private Equity PLC announced on Monday that it will switch its activities to online retail and will be renamed Unbound Group PLC.

 
Market Talk: 

Eurozone and UK economies expected to experience strong growth in 2022

08:35 GMT – Eurozone and UK economies are expected to experience robust growth in 2022, 4.4% and 4.7% respectively, according to economists at Goldman Sachs. While the surge in Covid-19 infections due to the Omicron variant of the coronavirus is likely to weigh on service activity over the winter, the blow will be more manageable than last year, they say. “Given the higher immunity levels, the inherent severity of the virus, and lower sensitivity of activity to Covid-19 restrictions compared to previous waves, we are looking for moderate but still positive growth at the first quarter in the eurozone and the UK, ”Goldman Sachs said. Once the virus subsides, the bank expects strong growth in consumption as pent-up demand for services is released, with savings rates normalizing while budget support remains in place.

 

Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at sarka.halas@wsj.com

(END) Dow Jones Newswires

January 10, 2022 06:26 ET (11:26 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.


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