Summary
WHEN the FTSE Steering Committee meets on Wednesday to shuffle the Footsie's pack, it has to decide what underperforming group makes way for new Pounds 4.3bn housebuilding giant Barratt Developments (4p dearer at 1095p),which more than doubled in size after swallowing rival Wilson Bowden for Pounds 2.2bn in April. According to current valuations, Bradford Bingley (31/4p lower at 4271/4p) and Drax (141/2p down at 786p) are fighting to stave off relegation from the exclusive City club.
Mortgage bank BB has been hit by lower UK mortgage approvals following four base rate rises in the past year.See the full content of this document
Extract
Barratt has Built Claim to Ftse 100 ; Market Report
Fears that rates have yet further to rise this year and if they do, what damaging effect it will have on the UK housing market, has led to various analyst downgrades. BB has fallen from a year's ...
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