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The FTSE 100 surrendered some of yesterday's gains with the Nikkei decisively lower after the Bank of Japan held off on further stimulus and left rates unchanged while the US Federal Reserve issued a doveish statement but also kept interest rates on hold.
“The house-building sector has lost some of its sparkle recently but Taylor Wimpey was back in favour with investors in early trading after a bullish trading update,” says AJ Bell Investment Director Russ Mould.
“Fundamentals for both Taylor Wimpey and the sector in general look strong with demand buoyed by continued government support for first time owners through the Help to Buy scheme and low mortgage rates alongside a reduction in the rate of build-cost inflation.
“GameAccount Network’s losses widened in 2015 and underlying net revenues fell but it remains confident its Simulated Gaming will substantially compensate for delays in regulating real-money Internet gaming in the US. The group last week announced a partnership last week with a major casino operator in the south-west of the US and is positioned for further growth.
“Lloyds failed to excite investors with its first quarter figures which showed underlying pre-tax profits falling by 6% to £2.1bn. The group says its differentiated UK focused business model continues to deliver in a challenging operating environment."
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