Property, papers and recycling

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FTSE indices were lower in early trading as UK equities continued to track volatile oil markets, with Chinese growth concerns also lurking in the background. Investors on Wall Street were jittery at best overnight, with negative sentiment spreading to Asian markets.

“London estate agent Foxtons (LSE:FOXT) is proving immune to any slowdown in the property market,” says AJ Bell Investment Director Russ Mould.

“New data has shown that overall property sales in the capital were 11% down last year. But not at Foxtons where revenues have grown in all its business sectors. The group’s second half was particularly encouraging and it is increasing its dividend by 13.4%. 

“Regional newspaper group Johnson Press (LSE:JPR) was an early riser after slashing its pension scheme deficit. And the group is now entitled to participate in any surplus when the scheme closes following new rules agreed by trustees.

“Waste management group Shanks (LSE:SKS) has been hit by the downturn in the energy and commodities sectors and warned that full year results will be slightly below previous forecasts. The sharp fall in commodity markets has affected the prices of materials than can be recycled and its hazardous waste arm has been hit by cuts in the oil, gas and electricity sectors.

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