PSN.L - Persimmon Plc

Edited Transcript of PSN.L earnings conference call or presentation 20-Aug-19 8:30am GMT

Half Year 2019 Persimmon PLC Earnings Call

UPDATE 1-Brexit-sensitive stocks, sterling hit by deepening political turmoil

Shares in Britain's housebuilders and retailers tumbled and sterling slid on Wednesday after multiple media reported rumors Prime Minister Theresa May's ministers could oust her in a row over her latest deal to exit the European Union. The reports, underscoring deepening uncertainty over Britain's leadership, gave Brexit-sensitive stocks and sterling their first major jolt since March when the then Brexit deadline was looming. Housebuilders Taylor Wimpey, Berkeley Group, Barratt Development, and Persimmon fell sharply, down 3.7 to 5.4% by 1450 GMT.

UPDATE 2-Brexit worries hit domestic stocks but sterling slide lifts FTSE 100

Brexit sensitive housebuilders and airlines slid on Wednesday as rumors circulated that ministers could oust Theresa May after her latest EU exit plan failed to win support, while exporters lifted the FTSE 100 as the pound weakened. The main index, whose companies earn more than two-thirds of their profit from abroad, ended 0.1% higher, while the more domestically-focused FTSE 250 slipped 0.7%. A slump in sterling lifted internationally-exposed companies GlaxoSmithKline, Unilever and AstraZeneca , the biggest boosts to the FTSE 100.

Sterling slide boosts FTSE 100, discounted rights issue knocks M&S

The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signaled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped after a discounted rights issue. The main index, whose companies get more than two-thirds of their profit from abroad, advanced 0.6% by 0727 GMT while the more domestically-focussed FTSE 250 was up 0.1%. Internationally-exposed companies British American Tobacco , Unilever and Diageo were among the biggest support to the blue-chip index.

UPDATE 2-New Brexit deal, Huawei reprieve boost FTSE 100

The FTSE rose on Tuesday, helped by a rally in homebuilders amid news of a proposed parliamentary vote on a second Brexit referendum and gains in Asia-facing stocks after the United States relaxed restrictions on China's Huawei. The FTSE 100 was up 0.3%, while the FTSE 250 rose 0.5%, with builder Galliford Try leading gains after announcing job cuts.

UPDATE 2-Sainsbury's drags FTSE 100 lower, Taylor Wimpey warning knocks housebuilders

British shares closed in the red on Thursday as Taylor Wimpey's warning on margins triggered a sell-off among housebuilders while investors soured on Sainsbury's after the company scrapped its proposed takeover of Walmart's Asda. The FTSE 100 and the FTSE 250 lost 0.6 percent each.

UPDATE 2-Brexit delay lifts mid-caps to 6-mth high; growth fears bruise FTSE 100

FTSE 100 slips on global slowdown fears, Brexit delay cushions fall

UPDATE 2-FTSE clings to 6-month high as potential further Brexit delay lifts mood

The prospect of a further delay to Brexit eased some fears of a disruptive no-deal departure and sparked a rally in homebuilders and banks on Wednesday, helping London's main index hold on to a six-month high, while midcaps outperformed. The FTSE 250 bounced 1.2 percent - its biggest rise in two-and-a-half months - for a fifth straight session of gains, while the FTSE 100 added 0.4 percent and ended the session at its highest level since early October. Prime Minister Theresa May said on Tuesday said she would seek another Brexit delay beyond April 12, hoping to try to agree a European Union divorce deal with the opposition Labour leader.