FTSE 100 Set to Fall, Pound Rises

LiveUpdated2m agoFTSE 100 Set to Fall, Pound RisesJoin the Markets Today team for news and analysis vital to UK markets. Email us at marketstoday@bloomberg.net2m ago Homebuilder Berkeley Group said it remain on track to meet its pretax profit and guidance this year and next, despite reporting revenue slightly shy of analyst expectations amid “a very challenging macro-economic and regulatory environment.” The market has remained constrained by higher than anticipated interest rates and macro uncertainty, with the value of underlying sales reservations more subdued in the run-up to the budget, due to speculation and uncertainty, the Berkeley said. The firm was more upbeat about the market outlook, however, particularly London -- which has been a dampener on the housing market more broadly recently. Rob Perrins, Berkeley’s Executive Chair, said: “While near-term sentiment remains cautious, the long-term outlook is more positive; particularly in London, where undersupply is compounding and affordability is gradually improving with falling interest rates, improved mortgage availability, strong wage growth, and stable pricing. With the Budget uncertainty behind us, now is a good time for customers with the ability to buy, to do so, and take advantage of the prevailing market dynamic.” Photographer: Jason Alden/Bloomberg Morwenna ConiamUK Markets Today, LondonCopied