Feb 2, 2021

Housing market shows signs of slowing down

On an annual basis the market cooled for the first time in six months, with the pace of annual increase slowing to 6.4 per cent from 7.3 per cent in December. For the year as a whole the company delivered a £5.69bn annual loss, its first in a decade, as reduced long-term energy price forecasts meant writing down the value of assets by $6.5bn. BP said quarterly performance was "Significantly" hit by weakness in the downstream business, pressure on fuel sales because of the pandemic and weaker refining margins. Moonpig has priced its upsized flotation at the top of the range, giving the greetings card company a debut market value of £1.2bn. The company said it raised £491.2m by selling shares at 350p apiece, versus its indicative range of 310p to 350p. Capital & Counties Properties, the Covent Garden landlord, said it had collected 43 per cent of rents due in the first quarter of 2021. The company's year-end valuation of the Covent Garden estate was £1.8bn, down 13 per cent in the second half. Power company SSE said in a fiscal third-quarter trading update that it still expects to deliver full-year earnings per share in the 85p to 90p range, resulting in an 80p per share dividend.

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