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A signage is pictured at Travis Perkins, a timber and building merchants yard in St Albans, Britain October 22, 2020. The group said it now expected 2023 adjusted operating profit to be in the range of 175 million pounds ($215 million) to 195 million pounds, down from the 240 million pounds it had guided to in June, itself a 12% downgrade. Shares in Travis Perkins sunk by as much as 12% in early deals, hitting their lowest level for over three years. Travis Perkins said it remained confident in its longer-term outlook because Britain needed to build more homes and existing infrastructure would need to be decarbonised. Separately, Forterra (FORT.L), a British company which manufactures clay and concrete building products, said demand for its products has softened since July.

Persons: Travis Perkins, Paul Childs, Nick Roberts, Travis, Peel Hunt, Sarah Young, William James, James Davey, Emelia Organizations: REUTERS, Britain's, Peel, Thomson Locations: St Albans, Britain, British

☆ UK housing market challenging but rate pause offers hope -RICS
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, edged down to -69 after August's sharp drop to -68. Echoing other gauges of British house prices, RICS' latest figure was the weakest since February 2009 and was below the median forecast of -63 in a Reuters poll of economists. Britain's housing market boomed during the coronavirus pandemic as demand for homes with more space surged, but it has been a victim of the BoE's run of 14 interest rate hikes, which began in December 2021. "Although the decision to pause monetary policy tightening a few weeks ago provided a glimmer of relief for the market, interest rates are likely now set to remain on hold for a prolonged period," Parsons said. The weak state of the housing market has hurt companies such as building materials supplier Travis Perkins (TPK.L), which on Wednesday downgraded its annual profit forecast by as much as 27%.

Persons: Henry Nicholls, RICS, Tarrant Parsons, Parsons, Travis Perkins, William Schomberg, Kylie MacLellan Organizations: REUTERS, Bank, Royal Institution, Chartered Surveyors, Thomson Locations: London, Britain

☆ European markets open lower ahead of slew of earnings
▼ + stars: | 2023-08-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets opened lower on Tuesday as investors look ahead to a busy week of earnings after logging a winning month in July. The Stoxx 600 opened down 0.1%, with all major bourses and the majority of sectors trading in negative territory. Stateside, U.S. futures traded near the flatline after wrapping up a winning earnings month. Back in Europe, earnings are due from Euroapi, Uniper, Daimler Truck, DHL Deutsche Post, Covestro, BP, HSBC, Travis Perkins and Diageo. Euro zone unemployment data will also be posted.

Persons: Dow, Travis Perkins Organizations: P Global, Nasdaq, Daimler Truck, DHL Deutsche Post, BP, HSBC, Diageo Locations: Asia, Pacific, Europe, Euroapi, Covestro

The continent-wide European STOXX 600 (.STOXX) index rose 0.5%. The index gained 1.5% in the policy-packed week, its best performance in over two months. China-focused luxury stocks such as LVMH (LVMH.PA) and Richemont (CFR.S) gained nearly 3% each, boosting the broader STOXX 600. Defensive shares such as healthcare (.SXDP) gained 0.9%, and utilities (.SX6P) climbed 1.3% to a four-week peak. The STOXX 600 broke away from a restrictive 1% trading range that was seen for much of the past two weeks, as investors gradually start putting behind major central bank events.

Persons: Travis Perkins, DAX, Germany's DAX, Danni Hewson, AJ Bell, Hewson, Shreyashi Sanyal, Siddarth, Sohini Goswami, Sherry Jacob, Phillips Organizations: European Central Bank, U.S, U.S . Federal, Bank of Japan, Bank of, Britain's, Rheinmetall, Apollo Global Management, Claure Group, Thomson Locations: China, U.S ., Stockholm, Millicom, Bengaluru

☆ European shares edge higher at open, defensive healthcare stocks up
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

June 16 (Reuters) - European shares opened higher on Friday as gains were led by defensive healthcare stocks at the end of a week dominated by major central bank policy decisions. The continent-wide European STOXX 600 (.STOXX) index rose 0.2% at 0717 GMT, with the healthcare index (.SXDP) up 0.5%. The STOXX 600 had ended Thursday lower after the European Central Bank (ECB) raised borrowing costs and signalled more policy tightening in its fight against sticky inflation, a day after the U.S. Federal Reserve's hawkish pause. Shares of Britain's biggest supplier of building materials Travis Perkins (TPK.L) slid 7.4% to the bottom of the STOXX 600 after it warned profit would be hit by difficulties in the country's housing market. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Travis Perkins, Shreyashi Sanyal, Sohini Goswami Organizations: European Central Bank, U.S, U.S . Federal, Bank of Japan, Britain's, Thomson Locations: U.S ., Bengaluru

SummarySummary Companies Travis Perkins falls, warns of downbeat profitUK inflation data, BoE rate decision due next weekFTSE 100 up 0.2%, FTSE 250 flatJune 16 (Reuters) - UK's FTSE 100 climbed on Friday, with defensive stocks such as utilities and healthcare leading the charge, while top building materials supplier Travis Perkins slumped after a profit warning. The internationally-focused FTSE 100 (.FTSE) gained 0.2%, posting a weekly gain of 1%, snapping a three-week losing streak underpinned by strength in mining stocks. Investors now look ahead to domestic inflation data and a probable 25-basis-point rate hike from the Bank of England next week. "It looks like, at least at this point, that this is the central bank that's going to remain the most restrictive for the longest period of time." A BoE survey showed the British public's expectations for inflation in the coming 12 months cooled in May.

Persons: Travis Perkins, BoE, Julien Lafargue, Ankika Biswas, Shashwat Chauhan, Khushi Singh, Sherry Jacob, Phillips, Shailesh Organizations: U.S . Federal Reserve, European Central Bank, Bank of, ECB, Barclays Private Bank, FTSE, Britain's, Thomson Locations: Bank of England, Bengaluru

☆ Travis Perkins warns on profit in sign of UK housing market difficulty
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 16 (Reuters) - Travis Perkins (TPK.L), Britain's biggest supplier of building materials, warned profit would be hit by difficulties in the country's housing market in one of the latest warning signs that rising interest rates are beginning to be felt by consumers. For 2023, Travis said it now expected full-year adjusted operating profit to be around 240 million pounds ($307 million), a downgrade from guidance in April when it said it was on track to meet market forecasts of about 272 million pounds. Worries over higher mortgages now appear to be feeding through to the housing market, with Travis saying that the volumes in new build housing and private domestic building projects were lower. Travis said the other half of its business, which serves large commercial and public infrastructure projects, however, was seeing resilient demand. ($1 = 0.7817 pounds)Reporting by Sarah Young in London and Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Travis Perkins, Travis, Sarah Young, Aby Jose Koilparambil, Rashmi Aich, Kate Holton Organizations: Britain's, Bank of England, Thomson Locations: London, Bengaluru

☆ European shares fall on sticky inflation worries; UK's Ocado slides
▼ + stars: | 2023-02-28 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The continent-wide STOXX 600 index (.STOXX) slipped 0.3% in the first hour of trading, after closing sharply higher in the previous session. Higher food prices pushed the 12-month inflation rate in France to 7.2% in February from 7.0% in the preceding month. In Spain, consumer prices rose 6.1% year-on-year in February, over a 5.9% rise in the 12 months to January. Ocado (OCDO.L) sank 9.6%, to the bottom of the STOXX 600, after the online supermarket and technology group reported a worse-than-expected full-year loss. Travis Perkins (TPK.L) fell 3.7% after Britain's biggest supplier of building materials posted a 16% decline in annual profits.

☆ EUROPE Market mood downbeat ahead of raft of data
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Anshuman DagaThe overarching downbeat mood among investors shows no signs of improving as markets become increasingly wary of a further rise in borrowing costs. Although U.S. markets took a breather and rose on Monday, they ended well below the day's highs and Asian markets were back in the red on Tuesday after gaining in early trade. Tuesday's U.S. consumer confidence data will be especially scrutinised for households' views on economic prospects and inflation expectations. European markets will deal with CPI data due from France and Spain. While inflation has eased a bit, providing some support to markets, a barrage of economic data suggests that inflation is stickier than expected, reinforcing the "higher-for-longer" rates view.

☆ Travis Perkins CEO: Pipelines remain robust in construction sector
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTravis Perkins CEO: Pipelines remain robust in construction sectorTravis Perkins CEO Nick Roberts argues he sees long-term fundamentals for growth in the U.K., as he outlines why his group is prepared to handle short-term volatility.

☆ FTSE 100 falls as Ocado sinks; still set for best Feb in six years
▼ + stars: | 2023-02-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) lost 0.6% with shares of Ocado (OCDO.L) plunging 10.5% on the online supermarket and technology group's worse-than-expected full-year loss. "Ocado is in the eye of the cost-of-living storm because its offering isn't synonymous with being the best value," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. Lund-Yates said Ocado is a higher-end option, without the same benefits of enticing people with tangible, physical goods like peer Marks & Spencer (MKS.L). Despite recent volatility, the exporter-heavy FTSE 100 is on track to record its best February performance since 2017 as higher earnings and weakness in the pound earlier in the month made equities more attractive. On the flipside, hedge fund firm Man Group (EMG.L) gained 7.9% after posting a higher full-year core pretax profit and beating expectations on assets under management.

☆ Morning Bid: Market mood downbeat ahead of raft of data
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Tuesday's U.S. consumer confidence data will be especially scrutinised for households' views on economic prospects and inflation expectations. Economists polled by Reuters expect a median reading of 109.5 on the index, which unexpectedly fell in January. European markets will deal with CPI data due from France and Spain. While inflation has eased a bit, providing some support to markets, a barrage of economic data suggests that inflation is stickier than expected, reinforcing the "higher-for-longer" rates view. British Prime Minister Rishi Sunak struck a deal with the European Union on post-Brexit trade rules for Northern Ireland.

☆ Blackout fears prompt Britons to buy generators and torches
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 14 (Reuters) - Britons are preparing for possible power cuts by stocking-up on portable generators and torches, in addition to winter clothing, thermal underwear and candles. Comparing data from the first 11 days of October 2021 to the same period this year showed a 203% increase in sales of generators and a 43% increase in sales of torches and head torches, Toolstation, part of Travis Perkins (TPK.L), Britain's biggest building materials retailer, said on Friday. The Toolstation data chimes with a report this week from market researcher Kantar which said Britons were stocking-up on candles and duvets. Department store chain John Lewis last week said people were stockpiling thermal underwear, gloves and dressing gowns. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

LONDON, July 18 (Reuters) - Sales of electric fans, hoses, air conditioning units and sprinklers are soaring as Britons swelter amid record temperatures, retailers said. 2 supermarket group which also owns the Argos general merchandise business, said sales of fans last week rose 1,876% versus the week before, while sales of air conditioning units were up 2,420% and sales of paddling pools were up 814%. On Monday, 10 out of the top 15 most-sold items in Amazon's (AMZN.O) UK home and kitchen section were fans. Department store group John Lewis said sales of fans and air conditioning units were up 709% year-on year. It said sales of smart technology that controls temperatures leapt 95%, while sales of hoses had increased by 56% and sales of water cans by 21%.

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