Good morning from Paul & Graham!
The Week Ahead - just published (by Roland this week) - the excellent new macro/large cap editorial here on Stockopedia.
Mello Monday - starts at 17:00 today, with a talk I don't want to miss from Vin Murria at the start. Also React (LON:REAT) are on, which I think looks to have interesting potential, I was pleasantly surprised at some of the numbers when I last reviewed it recently. Although it has an ongoing challenge with lowly rated equity meaning it can't do any meaningful acquisitions without diluting away the benefit.
Housebuilders
Further investigation by CMA (competition & markets authority) - interesting news here, saying that the CMA has found areas of concern in its investigation into housebuilders -
The third bullet point above is the one that concerns me, more detail saying -
The CMA has also today opened a new investigation into the suspected sharing of commercially sensitive information by housebuilders which could be influencing the build-out of sites and the prices of new homes. While this issue is not one of the main drivers of the problems we’ve highlighted in our report, it is important we tackle anti-competitive behaviour if we find it.
These are the companies suspected of sharing information -
The CMA has therefore launched an investigation under the Competition Act 1998 into - [reformatted by Paul into a list] -
Barratt,
Bellway,
Berkeley,
Bloor Homes,
Persimmon,
Redrow,
Taylor Wimpey, and
Vistry.
The CMA has not reached any conclusions at this stage as to whether or not competition law has been infringed.
The CMA’s report today is only short, and very interesting, so I recommend others to read it in full. All sounds like common sense to me (Paul).
Looking at the early morning prices today, some of the above companies have seen 1-3% share price falls so far (written at 08:26).
Explanatory notes -
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