Positive sales and price increase boost Persimmon and other housebuilders
- Persimmon shares lead U.K. housebuilders higher on better sales and news of higher prices
- Persimmon expected to sell at least 9,500 units in 2023
- U.K. house prices rose 1.1% between September and October
- Other housebuilders also saw gains in their shares
- Associated British Foods launches share buyback and expects Primark margins to recover
- UBS reports $785 million loss in Q3 but sees $33 billion of new deposits
- Watches of Switzerland sees 10% jump in shares after positive trading update
Shares of Persimmon led the U.K. housebuilding sector higher after reporting improved sales and a survey showing a rise in home prices. Persimmon expects to sell at least 9,500 units in 2023, up from previous guidance. U.K. house prices rose 1.1% between September and October. Other housebuilders, including Barratt Developments and Taylor Wimpey, also saw gains in their shares. Associated British Foods launched a share buyback and expects Primark margins to recover. UBS reported a loss in Q3 but saw new deposits. Watches of Switzerland saw a 10% jump in shares after a positive trading update.
Factuality Level: 7
Factuality Justification: The article provides information about the increase in sales and home prices for Persimmon, a UK housebuilding company. It also mentions the struggles of the British housebuilding sector due to high interest rates and the positive impact of the house price data on Persimmon’s update. The article includes quotes from Persimmon’s CEO and an investment director, providing some perspective. However, the article lacks in-depth analysis and context about the overall state of the UK housing market and the factors affecting it.
Noise Level: 3
Noise Justification: The article provides information on the increase in sales and home prices for Persimmon, a UK housebuilding company. It also mentions the struggles of the British housebuilding sector due to high interest rates. However, the article contains irrelevant information about other companies and unrelated market updates, which adds noise to the overall content.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Persimmon and other housebuilding companies
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the performance of the U.K. housebuilding sector and the positive sales and home price data. There is no mention of any extreme events or their impact.
Public Companies: Persimmon (PSN), Barratt Developments (BDEV), Taylor Wimpey (TW), Associated British Foods (ABF), UBS (UBSG), Watches of Switzerland (WOSG)
Key People: Dean Finch (Persimmon chief executive), Russ Mould (AJ Bell investment director), Aarin Chiekrie (equity analyst at Hargreaves Lansdown)
Reported publicly:
www.marketwatch.com 
