Decline in UK House Prices Has Further to Run

0849 GMT - House prices in the U.K. are starting to buckle due to very high mortgage rates and squeezed household incomes, Pantheon Macroeconomics senior U.K. economist Gabriella Dickens says in a note after Nationwide's November data. The mortgage lender said house prices fell for the second month in a row, and November's fall is likely just the start of a longer-term trend given the slow decline in mortgage rates since their peak in October, she says. However, the fall in house prices will likely be limited by scarce supply, Dickens says. Pantheon expects house prices to fall around 8%, reversing one-third of the increase since the start of the Covid-19 pandemic. (xavier.fontdegloria@wsj.com)

 
Companies News: 

Likewise Sales Rose on Year in October, November; Backs Guidance

Likewise Group PLC said Thursday that sales rose 28% on year in October and November on a like-for-like basis, and that it is on course to meet medium-term objectives.

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AJ Bell FY 2022 Pretax Profit Rose; Increases Dividend

AJ Bell PLC on Thursday posted a rise in its pretax profit for fiscal 2022 and said it was increasing its dividend.

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Hotel Chocolat Swung to FY 2022 Pretax Loss; Chairman, CFO to Step Down

Hotel Chocolat Group PLC on Thursday reported a swing to a pretax loss for fiscal 2022 on higher exceptional costs, though revenue rose, and said that its chairman and chief financial officer will step down in 2023.

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Creightons Swung to 1H Pretax Loss

Creightons PLC on Thursday reported a pretax loss and slightly lower revenue for the first half of fiscal 2023 and said it wouldn't propose an interim dividend, citing volatile economic conditions and the need for caution on the use of cash resources.

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Deepmatter to Seek Shareholder Approval to Delist on AIM, Raise Funds

Deepmatter Group PLC said Thursday that it is seeking shareholder approval to cancel trading of its shares on London's junior AIM and for a 1 million pound ($1.2 million) share subscription, as previously flagged.

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Mortgage Advice Bureau Sees 2022 Profit Missing Views Amid Economic Turmoil

Mortgage Advice Bureau (Holdings) PLC said Thursday that written business in October and November were 50% below its expectations due to macroeconomic turmoil, and it expects full-year adjusted pretax profit to slightly miss expectations.

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Eqtec Deeside Project Sale Falls Through, Cuts 2022 Revenue View; Shares Fall

Eqtec PLC shares fell Thursday after it said it has been unable to reach mutually acceptable terms for the sale of the Deeside waste energy project in the U.K. with a corporate investor and lowered its full-year revenue forecast.

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Peel Hunt 1H Pretax Profit Hit by Low Market Activity

Peel Hunt Ltd. on Thursday reported a significant fall in pretax profit for the first half of fiscal 2023, which was hurt by challenging market conditions and historically low levels of activity, but said it is well- positioned for growth when markets normalize.

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Essensys Sees FY 2023 Meeting Market Views After 1Q Revenue Rose

Essensys PLC said Thursday that its revenue grew 22% on year for the first quarter of fiscal 2023, and that it remains confident in meeting market expectations for the full year.

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Tribal Group 2022 Earnings to Come in Below Expectations

Tribal Group PLC on Thursday said Ebitda for the year should come in substantially below expectations due to the negative impact of a contract with Nanyang Technology University in Singapore, extra costs and wage inflation.

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CyanConnode Sees 1H Performance, Full-Year Revenue Meeting Market Views

CyanConnode Holdings PLC said Thursday that its performance for the first half of fiscal 2023 met market expectations, and it expects full-year revenue to also meet consensus views.

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Venture Life Shares Rise Amid HL Healthcare Purchase, Expectations of Meeting 2022 Views

Venture Life Group PLC shares rose Thursday after the company said it bought manufacturer HL Healthcare Ltd. for 13 million pounds ($15.7 million), and that it expects to deliver 2022 results in line with market views.

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Triad Group Shares Fall on Swing to 1H Pretax Loss, Revenue Drop

Shares of Triad Group PLC fell Thursday after the company said that it swung to a pretax loss and revenue fell for the first half of fiscal 2023, although the second half has begun well.

 

Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

December 01, 2022 04:08 ET (09:08 GMT)

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