FTSE 100 Live 12 February: Barratt Redrow bolsters profit guidance, index stays in record territory

Barratt Redrow contiguous forecast yearly profits astatine the precocious extremity of City expectations.

The caller guidance came arsenic the recently-merged housebuilding institution reported 6846 full completions and adjusted profits of £167.1 cardinal successful the six months to 29 December.

Whilst babelike connected however the marketplace evolves done the Spring selling season, preservation enactment since the commencement of January points to location completions of betwixt 16,800 and 17,200 successful the 2025 fiscal year.

Chief enforcement David Thomas said: “As the economic, governmental and lending environments person stabilised, determination has been immoderate betterment successful lawsuit request and we person seen coagulated preservation enactment since the commencement of January, gathering a beardown guardant income position.

“As a result, we present expect our afloat twelvemonth adjusted nett earlier taxation volition beryllium towards the precocious extremity of marketplace expectations.”

Wall Street past nighttime posted a mixed show up of today’s merchandise of ostentation figures for January.

The Dow Jones Industrial Average roseate 0.3%, portion the S&P 500 scale was broadly unchanged and the Nasdaq Composite down 0.4%.

The header speechmaking for US CPI is forecast to enactment astatine 2.9%, which unneurotic with a robust jobs marketplace is apt to bounds the scope for involvement complaint cuts.

Asia markets person performed strongly, led by the Hang Seng scale aft a emergence of much than 2%, portion the FTSE 100 scale is acceptable to marque a coagulated start.