Sharecast News
19 Aug, 2020 01:18

Sector movers: Homebuilders help to offset losses among leisure issues

Leisure stocks were among the weakest areas of the market with the likes of Carnival, InterContinental Hotels, Mitchell and Butler's and Whitbread all in the minus column at the end of the session.

Adding to the selling pressure in the case of the former was news that it had detected a ransomware incident in which the data of its guests and employees was accessed.

Going the other way, homebuilders helped to stem some of the losses on the FTSE 350 on Tuesday after Persimmon Group reinstated a "modest" dividend payout and left the door open to the payment of its final dividend for 2019 before the end of the financial year.

Its shares paced gains on the top-flight index followed close behind on the leaderboard by Barratt Developments and Berkeley Group.

Just the day before, analysts at Davy had upgraded their recommendation on the stock to 'neutral' arguing that "Persimmon has driven the best operational rebound post-COVID of any builder in the sector."

Wood Group meanwhile accounted for the advance in Oil Equipment and Services stocks after the engineer posted half-year profits that came in at the upper end of guidance, while net debt reduced as the firm took steps to optimise its portfolio and to protect cashflow.

Top performing sectors so far today

Oil Equipment, Services & Distribution 4,485.20 +3.66%

Automobiles & Parts 3,145.82 +1.72%

Household Goods & Home Construction 17,761.59 +1.53%

Alternative Energy 0.00 0.00%

Alternative Investment Instruments NULL 0.00%

Bottom performing sectors so far today

Industrial Transportation 2,004.52 -2.60%

Food Producers & Processors 6,657.65 -2.38%

Leisure Goods 21,973.67 -2.38%

Gas, Water & Multiutilities 4,821.72 -2.21%

Health Care Equipment & Services 6,495.49 -1.98%

News Source: © 2020 Web Financial Group (UK) Limited. All rights reserved. Terms of use and legal notice

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

 

Important Legal Notice about News Sources

 

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.