Shares in Sheffield-based FTSE 250 building products firm SIG (SHI) hit their lowest level since the pandemic this month, bringing year-to-date losses to almost 40%. In its interim trading update the company revealed sales in May and June were below forecasts, having failed to recover from the downturn of the first four months of the year, and said it was 'cautious' in calling a second-half...

Stocks in Europe were in the green at midday on Monday, although markets were feeling some nerves around elections in the UK, the US and France.The FTSE 100 index traded 33.76 points higher, 0.4%, at 8,271.48. The FTSE 250 was up 74.04 points, 0.4%, at 20,516.39, though the AIM All-Share fell just 0.34 of a point to 772.23.The Cboe UK 100 rose 0.4% to 822.88, the Cboe UK 250 climbed 0.6% to...

No second-half recovery in sightFull-year forecast cut by a quarter PMI survey reveals gloomy sentimentSheffield-based insulation and building materials supplier SIG (SHI) is the latest company to warn that profits this year will miss expectations due to challenging conditions in the new-build residential sector.SIG shares, which had actually gained 16% this year, fell as much as 25% in early...

Investors seeking to position portfolios for a rally in small and mid cap stocks should buy BlackRock Throgmorton Trust (THRG), a fund with a strong long-run performance record trading at a 7.2% discount to net asset value (NAV), wider than the 4.7% 12-month average.The sell-off in quality growth stocks caused by rising interest rates has been a headwind for the portfolio, but Shares sees...

Brickmaker sees first-half sales down sharplySecond-half recovery weaker than expectedShares make new post-Covid lowsLess than a week after insulation and building products firm SIG (SHI) cut its full-year profit forecast due to 'challenging and variable' market conditions, brickmaker Forterra (FORT) has posted an equally downbeat trading update blaming 'challenging conditions' for an 18% drop...

SIG downgrades full year profit to lower end of market expectationsImplies 12% lower profit as demand weakensUncertain timing of recoveryBuilding materials group SIG (SHI) lowered full year guidance for underlying operating profit to the lower end of current market expectations implying a 12% downgrade.The shares fell roughly in line with the downgrade dropping by a tenth to 31p taking the...

The common factor across the latest trading updates from the big housebuilders is they are all forecasting fewer completions and land purchases this year.That could spell trouble for the various trades which support the new-build home industry, from legal services to building materials and equipment hire to fitted kitchens and bathrooms.With mortgage costs soaring after repeated interest rate...

There is no question this year has been an extraordinarily difficult one for many companies, who have had to cope with a sharp rise in both operating and financial costs as energy and labour prices have jumped and interest rates have gone up.It is therefore not such a surprise that FTSE 100 chief executives are leaving in record numbers, with over a dozen either having moved already this year...

As anyone who is in the process of having work done on their house will know, lack of product availability and soaring prices for materials are proving a real headache for contractors.The bad news for homeowners - and the building industry - is that inflation is proving stickier than expected, as a raft of suppliers have indicated this week.PRICES STILL RISINGInsulation maker SIG (SHI) said...

Building materials group SIG (SHI) posted a loss for 2021, in contrast to analysts' forecasts of a small profit.Despite the seemingly disappointing result, the shares gained 9% to 40.5p as investors looked to the current year which the company said had started well.REPORTED LOSSThe specialist supplier of insulation, roofing and exterior products to the construction sector reported a 2021...

While average wages may have risen 3.6% last year in nominal terms, the rate of inflation as we exited 2021 was 5.4% and last month it accelerated to 5.5% so in real terms workers are actually less well off now than they were a year ago.To make matters worse, the Bank of England has forecast inflation will top 7% in April before it starts to come down again. A large part of the increase is due...

Specialist building materials distributor SIG (SHI) pleased the market with its third quarter trading update that included a upping of anticipated full year profits.Continued sales momentum during the quarter to 30 September and improving operating performance makes the company 'more confident in the near term outlook' and therefore raised its guidance for underlying operating profits to...

London's FTSE 100 traded 0.39% higher at 7,218.19 points on Friday, the blue chip benchmark shrugging off weaker retail sales data amid easing China concerns following reports that cash-strapped property firm Evergrande will make a key interest payment at the weekend.UK retail sales volumes fell 0.2% in September, bucking expectations for a monthly rise of 0.5%.Overnight across the pond, the...

UK stocks rallied at the open on Tuesday, reversing much of Monday's losses, thanks to positive corporate news. At 8.45am the FTSE 100 index was up 58 points or 0.8% to 6,961 points, led by energy, mining and industrial stocks, while the FTSE 250 mid-cap index gained 159 points to 23,561.Overnight US stocks fell heavily with the S&P 500 index falling 1.7% and the Nasdaq 100 falling 2.1%, while...

UK stocks fell in early trading on Wednesday after higher inflation data, both at home and in the US, stoked concerns about rising interest rates.At 8.35 am, the benchmark FTSE 100 index and the more domestically focused FTSE 250 were both trading 0.5% lower, at 7,086.31 and 22,818.8 points respectively.The UK consumer price index rose 2.5% in June, ahead of expectations of a 2.2% increase....

Shares in building components supplier Tyman (TYMN) climbed 8% to a 10-year high of 458p after the company lifted its earnings guidance due to trading this year which it said was 'strongly ahead of expectations'.The firm said the positive trading momentum seen in the final quarter of 2020 had continued into 2021 across all three of its divisions, meaning full year operating earnings would be...

London's FTSE 100 opened higher on Wednesday with mining companies boosted by rising commodity prices buoyed by global recovery hopes.At 08.35 am, the blue chip benchmark was up 0.8% at 6,981.24 points, having lost ground on Tuesday due to a sell-off in US tech stocks.Miners led the charge early on, with BHP (BHP), Glencore (GLEN) and Rio Tinto (RIO) up 2.4%, 2.2% and 2.2%, respectively. Other...

London's FTSE 100 took a turn for the worse in afternoon trading on Monday as rising coronavirus cases and the prospect of tighter lockdown restrictions finally caught up with the stock market.Prime Minister Boris Johnson warned the UK is at a 'perilous' moment in the pandemic and said ministers are keeping lockdown restrictions under 'constant review', adding that 'where we have to tighten...

UK stocks fell throughout morning trading as reports emerged that the Government is considering tighter lockdown restrictions.Stocks had already started in subdued fashion as investors took profits following strong recent gains, driven by expectations of more US stimulus and Covid vaccine success, but continued to fall on Monday as concerns mount over rising coronavirus cases and the...

The FTSE 100 made a slow start to the new trading week with opening enthusiasm from vaccine roll-outs and US stimulus giving way to the grim reality of mounting coronavirus cases.Increasingly draconian measures are reportedly being contemplated by the Government to halt the spread of the more virulent form of Covid with worries intensifying that the NHS is close to being swamped.At 8:50am, the...