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7 months ago
BUZZ-Persimmon: FY rev rise soothes sector-wide Brexit concerns
January 5, 2017 / 8:28 AM / 7 months ago

BUZZ-Persimmon: FY rev rise soothes sector-wide Brexit concerns

** British housebuilder Persimmon +3.9% to trade at highest in 3 months & top FSTE bluechip gainer in decent vols on Brexit-defying 8% FY rev rise

** Says sales up since Brexit vote & sales rate up 15% between July-Dec

** Assuages sector-wide concerns raised by untimely results warning by smaller peer Bovis near Dec end

** Predictions around 2017 housing market mixed with first-time buyers affording some resilience till now, but PSN acknowledges would be difficult to better 2016's performance this year

** About 1/5X 30-dav avg vol through in 12 mins of trade on stock -9% y/y vs -0.66% for FTSE Allshare housing index

** Persimmon shares heading towards best 2-day gain since Oct, following from a day earlier sector-wide rally as Deutsche Bank signals c.30% upside across sector (RM: esha.vaish.thomsonreuters.com@reuters.net)

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