Housebuilder Berkeley Group issued a strategy and trading update this morning acknowledging a series of concerns and outlining its responses. The headline point here is to maintain shareholder value creation and it expects to return a further £564m to investors between now and the end of the decade, but has taken a number of initiatives in terms of no further land acquisitions and slowing down build rates to account for regulatory delays. This arguably flies in the face of government ambitions so it will be interesting to see if this generates any reaction either from Westminster or sector peers. It’s doing nothing to improve affordability. The Berkeley share price was down 17% in early trade.
International Consolidated Airlines Group
Optimism appears to be building that the war in the Middle East could de-escalate quite quickly and whilst both sides would inevitably claim victory, political posturing aside this move should be good for many corners of the economy. Airlines would be big beneficiaries, with fuel prices likely falling back and those routes which have been suspended reopening. That seems to be a theme playing out in early trade on Wednesday with the IAG share price up almost 6%. The wider sector is also benefitting with the WizzAir share price up 7% and easyJet’s share price 5% higher.
The AIM-listed AI data infrastructure company issued a trading statement this morning, noting that revenues were up by more than 50%, extending the momentum seen in FY25. Management also took the opportunity to note that they are considering a dual listing on NASDAQ in order to tap into a deeper pool of capital and explore fresh investment opportunities. The Insig AI share price was up 13% at 8.45am.
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