Investors hoping for better news from Barratt Redrow – Daily Business

Barratt Redrow has already delivered unwelcome news (pic: DB Media Services)

Barratt Redrow has already cut its first-half dividend and scaled back land purchases as it adapts to an uncertain environment amid rising geopolitical tensions. 

Investors will hope there is no more bad news when Britain’s biggest housebuilder updates on trading this week.

AJ Bell analysts Dan Coatsworth and Danni Hewson say that house builders have faced the perfect storm in recent years, with higher interest rates impacting affordability, to rising costs reducing profitability.

“While there are tentative signs of hope, we’ve seen plenty of false dawns before,” they say.

The Royal Institution of Chartered Surveyors this week reported a positive balance of property professionals expecting sales to increase in the next 12 months.

On Wednesday, the latest policy announcement is due from the Bank of Canada, which is widely expected to keep rates on hold at 2.25%.

ING said: “We think the bar for a material hawkish turn by the Bank of Canada is high, and we don’t expect surprises at next week’s meeting. Unless oil rallies back to April-May levels, the inflation outlook remains too benign to hike.”

DIARY 

Monday 13 July

Half-year results from ME Group

Trading update from Grafton

Tuesday 14 July

Full-year results from Watches of Switzerland

Quarterly results from JPMorgan, Bank of America, Goldman Sachs and Citigroup

Trading update from Robert Walters

US inflation

Wednesday 15 July

Trading update from Barratt Redrow

Full-year results from Cohort

Trading update from Hunting

Quarterly results from ASML, Johnson & Johnson, Morgan Stanley, BlackRock and United Airlines

US PPI

Thursday 16 July

Full-year results from Frasers Group

Half-year results from Ocado, Crest Nicholson

Trading update from Dunelm, Diploma and Wise

Quarterly results from UnitedHealth, Netflix and Seagate

UK GDP

US retail sales

Friday 17 July

First quarter figures from Burberry

GfK consumer confidence

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