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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

Barratt Developments

Half year results from housebuilder Barratt are out this morning, with total completions up by over 4%, revenues up by over 7% and a 2% improvement in margins being recorded. Yet again the housing sector shows no signs of slowing down despite the Brexit – a word that doesn’t even appear in the note – catharsis that is increasingly gripping the UK economy. With pre-tax profits up by almost 20%, shareholders are being rewarded with a 11% increase in dividends.

Redrow

Sticking with house building, Redrow has published its interim numbers today, too. Whilst the company at least acknowledges Brexit risk, the results once again make for powerful reading. Completions up 12%, revenues up 9% and dividends up 11%. This juggernaut of a sector shows no signs of slowing down – at least so long as interest rates remain low…

CYBG

Q1 results from CYBG this morning have shown mortgage lending inching higher, although the margin it earns on loans versus deposits has fallen from the same period a year ago. That’s a result of sustained competition and presumably something which isn’t sustainable. If borrowing costs start to creep higher then the halcyon days for the housebuilders surely could be coming to an end…

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Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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