Yesterday I read and reported on Persimmons (arguably bullish) prediction for the year ahead. Then later last night I read that 7% was wiped off their shares!
Rather than the doom and gloom commentary associated with our decision to leave the European union I would love to hear your views on how this could be good for our countries trading in the sector.
Britain's vote to leave the European Union will hurt the earnings of European building materials firms' UK operations, Moody's said a day after a report that Britain's construction industry suffered its worst contraction in seven years. The credit ratings agency said French building materials group Saint-Gobain SCOB.PA and Austria's Wienerberger (WBSV.VI), the world's biggest brickmaker, were likely to feel an immediate impact from falling house prices as the most exposed to the British residential market. Cement and aggregate producers HeidelbergCement (HEIG.DE), CRH (CRH.I) and LafargeHolcim (LHN.S), whose infrastructure and commercial construction projects typically run for a year or more, faced longer-term challenges, Moody's said.