Redrow (housing breaking out of a rectangle trading range at 220p on very high positive volume.

Resistance at 250p as shown on chart and then a move up to 300p on the cards?.

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Chart showing resistance points....

Deutsche Bank today reaffirms its hold investment rating on Redrow PLC (LON:RDW) and raised its price target to 638p (from 622p).

Some info for construction share holders.

The Government risks "pulling the rug out" from beneath the construction industry and would struggle to meet its target of building 300,000 new homes per year if it imposes strict migration rules after Brexit, house builders have warned. The Federation of Master Builders called upon ministers to ensure European bricklayers and carpenters can continue to come to Britain amid rising concern over skills shortages. - Telegraph.

StockMarketWire.com
House builder Redrow said its sales rate in the year-to-date had fallen due to Brexit uncertainty hurting the London property market.

The company also announced that executive chairman Steve Morgan would stand down at the end of March, to be replaced by current chief executive John Tutte.

For the first 18 weeks of the company's financial year, the sales rate per outlet per week was 0.64 compared, down from with 0.67 on-year.

The reduction was entirely due to the London market, Redrow said.

The value of net private reservations inched higher to £588m, up from £586m.

The average selling price of private reservations rose 4.6% to £388k.

Redrow's total order book was p 11% on-year at £1.2bn.

'For the first 18 weeks of the current financial year, Redrow has traded in line with expectations,' executive chairman Steve Morgan said.

'We continue to see good demand in our regional businesses with most sites sold well in advance.'

'However, the London sales market has remained subdued affected by excessively high stamp duty tax and Brexit uncertainty.'

Redrow also announced that the head of its southern business Matthew Pratt would become chief operating officer at the end of March.

Redrow declares special payout as profit rises 5%
StockMarketWire.com
House builder Redrow posted a 5% rise in first-half profit and declared a special payout to shareholders after it completed more homes compared to a year earlier.

Pre-tax profit for the six months through December rose to £185m on-year, as revenue climbed 9% to £970m.

The company declared an interim dividend per share of 10p per share, up 11% on-year, and an additional cash payment of 30p per share.

Legal completions increased 12% to 2,970, while the company's order book rose 11% to £1.16bn.

'The market during the run up to the festive period and the first two weeks of 2019 was subdued by macroeconomic and political uncertainty,' chairman Steve Morgan said.

'However, sales over the last three weeks have bounced-back with reservations running at similar levels to last year's strong market activity.'

Private sales for the first five weeks of 2019 were £156m, down from £166m on-year.

'Nevertheless given our record £1.2bn order book, our strategy remains on track giving me every confidence that this will be another year of significant progress for Redrow,' Morgan said.



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Thats a cracking chart there Fred.

One of my lucky ones b at 297 including costs.