Sector Specific Share Prices 22/03/13

Latest construction share prices for your viewing pleasure.

House builders have done well this week on the back Wednesdays budget. Heavy construction a mixed bag.

Have a great weekend.

CE Prices 220313

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Sector Specific Share Prices 18/03/13

This weeks share price table for your viewing pleasure. I have corrected mistakes in Support Services from last week – sorry about that.

House builders and Industrial Suppliers are looking good this week with strong increases so far this year. Very interesting to see how different Heavy Construction and Support Services companies are coping given the continuation of tough market conditions. We may take a closer look at May Gurney next week.

If you would like any companies added please let me know by leaving a comment. Feedback is also very welcome.

CE Prices 150313

Balfour Beatty – Brief Share Price Analysis

So, my web coding skills are gradually progressing and I hope to make some progress with the company tables (mentioned in previous posts) over the next few weeks. In the meantime, and as Balfour Beatty have been prevalent in the trade press over the last few months, I thought it may be useful to have a quick look at some historical share prices.

Recently, BB have undertaken a major restructure (a realignment which is likely to yield substantial savings at the loss of around 650 jobs), and a supply chain consolidation exercise. Earlier this month they released a profit warning after reporting a lower profit forecast for 2012. As one would expect, this caused a steep decline in share price, but not below the key support zone of around the 245 level. More recently, contract wins in mid-November have set the bulls back in motion, although, BB’s price seems to be struggling to break through the resistance zone at around 253. BB’s average share price so far this year comes in lower than that of 2011 but the lowest price in 2012 has not sunk below the 2 year low of 214.6 posted last November.

You can read BBs Q3 Interim Management Statement here:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11389501

We are hoping to undertake lots more analysis of performance over in the future. Once per month, we will have a detailed look at the performance a chosen company, including:

–          History

–          Fundamental analysis

–          Technical analysis

–          Recent and noteworthy news such as contract wins, restructuring, etc.

–          Speculation on future developments

We will also be home to tables of high-level statistics on all listed construction, support services, and real estate companies, updated weekly.

Great British Period on Period Construction Output Falls for Fifth Consecutive Quarter

Figures released by the Office for National Statistics today show a fall in output in 7 of the 9 defined sectors. The largest fall being in the private commercial sector.

As the graphic below illustrates, the infrastructure sector has been one of the few growth areas over the past quarter although, output is still a way off the same period a year previous.

Here is a link to the ONS publication and dataset if you want more detail:

 PUBLICATION

http://www.ons.gov.uk/ons/rel/construction/output-in-the-construction-industry/september-and-q3-2012/stb-construction-output-2012-q3.html

DATA

http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3A77-262512

 In other (equally dismal) news, my progress is slow with the construction share price data presentation and insight. I have a fully functioning spread sheet including charts, heat maps, interactive tables, etc. (which I use to aid trading decisions), yet its translation to the web is fraught with difficulty, mostly thanks to my lack of coding knowledge! I will persevere and hopefully it will be up within the next couple of months. In the meantime, I will start to post more regular Construction Company market insight and analysis in the form of charts and commentary which will become more interactive once I get the hang of this coding business.

New look Constructioneconomics.org – Coming Soon

The change in seasons has invigorated me to make undertake a more structured (and ultimately more useful) approach to Constructioneconimics.org, as I shall expound below:

To start with, you will soon notice some pleasing (and much needed) aesthetic modifications to the site including a new logo (which may or may not look something like the one below that I have just whipped up on Excel in an attempt to generate some interest!), new colours, and an updated theme.

More importantly, I am starting some new mini-projects that will warrant systematic weekly and monthly uploads, namely:

–          Tabulated and visualised share price data relating to UK listed Construction & Materials, Support Services, and Real Estate companies. This will include weekly fluctuation in share price and some nifty visuals. I hope this table will eventually become interactive once I have gained sufficient web coding power!

–          Weekly share price heat maps of the above companies. Again, this will hopefully become interactive after a few months.

–          Company Click – a detailed monthly insight into a selected company, which will include a bio, some visualisations and charts of historic stock performance, speculation on future price and investment ideas.  

–          Interactive map of UK construction – more on this to follow in the coming months (this is rather ambitious undertaking and may take a bit longer to galvanise).

So there you have it. The new features will of course be interposed with the usual visualisations and commentary on interesting construction data and the like. I will tweet about new posts as and when they happen (@guy_beaumont). Any questions or comments are, or course, very welcome.

UK Constuction Industry Market Analysis Sources

These headlines have become commonplace and reflect the current shabby state of the wider economy and the sentiment of many construction firms. Indeed, many of us can feel the diminution of positive sentiment in our everyday roles but for many firms it seems to be business as usual. The turmoil of the economy means different things to different companies. For some it may even provide business opportunity. So how do we measure the economic health of the whole construction industry with any accuracy?

To answer my own question…..we use the best data available to us.

This post documents some of the sources of data that I use every week to keep track of construction industry trend and sentiment. Much like an investment analyst or trader tracks key data and news feeds relating to the wider economy, particular company performance, or a specific currency pair, I like to keep up to date on the economic health of the industry within which I practice the most. I don’t have multiple screens running stochastic simulations on construction indices but I do take the occasional look at some of data provided by the following sources.

As you will see, I have listed some pros and cons of each source and attempted to assign each a crude score. Comparison is a tricky one – each medium is very different and often serves a unique purpose (how do you compare the ONS to Construction News?) so I have scored them based on four common criteria in an attempt to demonstrate usefulness by highlighting strengths and weaknesses.

These are subjective views and comments are, of course, very welcome.

Volume of Construction Output – May 2012

In constant (2005) prices, non-seasonally adjusted, the recent ONS release shows the total volume of construction output fell 6.30% from £8,876m to £8,317m in May 2012 compared with the May 2011.

 The decline is driven by a decrease in new public work specifically:

  •  the volume of new public housing work decreased by 22.9%
  • the volume of new public non-housing (excluding infrastructure) decreased by 21.5%
  • the volume of new infrastructure decreased by 21.3%
Analysis in Brief

Analysis in Brief

Volume of construction output was sighted as a key contributor to the UK’s re-entry into double-dip recession and given the output in May this trend looks set to continue although we must keep in mind that figures are not seasonally adjusted so the impression made by the Queens Jubilee is not taken into account. 

There may however, be some much needed light at the end of the tunnel ; after months of pronouncements of intent to boost construction starts and thus the UK economy, the government has this week announced they will use their strong credit position to guarantee £40 billion of eligible projects from the National Infrastructure Plan before 2015. The announcement seems to have been welcomed by industry leaders although the right funding model will be crucial……we await the birth of the ‘son of PFI’!