UK update – House prices fall for first time in 2021, BHP to exit petroleum?

imageStock Markets9 hours ago (Aug 16, 2021 08:37)

© Reuters.

By Samuel Indyk – At 08:35BST, the FTSE 100 is trading lower by 0.7% at 7,166. The midcap FTSE 250 is trading lower by 0.1% at 23,760.

In FX markets, GBP/USD is trading at 1.3861, EUR/GBP is trading at 0.8506. The US Dollar Index is flat.

This week’s calendar highlights include labour market (Tue), inflation (Wed) and retail sales (Fri) data from the UK.

On Wednesday, the FOMC releases the minutes from its latest monetary policy meeting.


UK house prices dropped 0.3% month on month in August, according to Rightmove. First decline in house prices this year.


BHP Group (LON:BHPB) – Confirms strategic review of its petroleum business. One option being considered is a potential merger with Woodside Petroleum and distribution of Woodside shares to BHP shareholders.

Ultra Electronics (LON:ULE) – Agrees to be bought by Cobham for £35.00 per share in cash.

Meggitt (LON:MGGT) – Meggitt board continues to recommend offer by Parker-Hannifin (NYSE:PH) and publishes scheme document for the deal. The Panel will announce the deadline by which Transdigm (NYSE:TDG) must clarify its intentions in relation to Meggitt.

Future PLC (LON:FUTR) – Acquired consumer media subscriptions business Dennis for approximately £300 million.

Londonmetric Property (LON:LMPL) – Sold 785,000 square foot Primark distribution warehouse in Northamptonshire for £102 million.

Audioboom (LON:BOOMA) – Extension of deadline following discussions with All Active Asset Capital Limited (AAA) by which AAA must either announce a firm intention to make an offer or announce it does not intend to make an offer.

Morrisons (LON:MRW) – CDR is reportedly “gearing up” to make a better offer for Morrisons. The PE group has until Friday to make a higher offer or walk away. (Times)

Lloyds (LON:LLOY) – Charlie Nunn will begin as Group Chief Executive Officer and Executive Director from today.

Provident Financial (LON:PFG) – Upgraded to hold from reduce by Peel Hunt.


Oil & Gas – WTI and Brent crude prices both lower amid rising Covid cases in Asia Pacific region. Separately, Friday’s Baker Hughes US rig count showed the largest weekly increase in oil rigs since April.

UK update – House prices fall for first time in 2021, BHP to exit petroleum?

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