Post-Brexit trading 'remains strong for Persimmon'published at 12:32 British Summer Time 23 August 2016
Housebuilder Persimmon is still "in rude health", says George Salmon of Hargreaves Lansdown, "with cancellation rates actually declining, and sales rates and visitor numbers up strongly".
"Prior to today’s results, investors will have been heartened to see interest rates cut in the aftermath of the vote, which should support mortgage affordability.
"Help-to-buy and the UK’s endemic housing shortage are also pulling in the right direction, but Persimmon acknowledge[s] that the uncertainty around the impact of Brexit on the UK economy is unlikely to pass quickly," he says.
Despite rising today, Persimmon shares are still 11% lower than from before the Brexit vote which sparked a sharp sell-off in shares of building firms.