The news helped boost its own shares – up 9% to 495.5p – but only touched the sector this week. Last week, Wilson Bowden fell 4.2% to 950p, Persimmon was down 3.3% to 470p, and Berkeley also slipped 3.3% to 727.5p. On Monday the companies rose by 5p, 14p and 5.5p respectively.
Support services group Hyder Consulting had its best week since it listed by means of a reverse takeover of Firth Holdings last October. Its shares soared 36.7% to 95p after it announced that its pre-tax profit for the 12 months to 31 March was £2.2m, up from just £94,000 the previous year.
Why, you may ask, is this news any better than that above? Well, on 21 March we predicted that Laing's share price would soar from 120-130p to 200p by next March. The market duly responded by knocking down its price 6.2% the following week. Ha.