FTSE 250 estate agent Savills said on Tuesday that it has traded in line with its expectations in the year to date, with UK trading "slightly" ahead as activity in the residential market starts to pick up.
Savills said it made a good start to 2018 but highlighted market uncertainty as the estate agent and property adviser posted a 3.5% rise in underlying annual profit.
Real estate service provider Savills said on Tuesday that it enjoyed a stronger-than-expected finish to 2017 and now sees underlying results for the year to the end of December ahead of its previous expectations, as it announced that Jeremy Helsby will retire as chief executive at the end of the year after 39 years with the group.
Countrywide took a hit on Monday after Credit Suisse downgraded the stock to 'underperform' from 'neutral' and slashed the price target to 111p from 288p as it took a look at UK estate agents.
Commercial and residential estate agency Savills reported strong first half results as Asia and London office sales offset a decline in the UK housing market.
Savills has announced the acquisition of Spanish real estate advisory business, Aguirre Newman, for up to 67m, which is payable in instalments over five years from completion.
Estate agency Savills said on Tuesday that residential transaction activity is expected to take a hit in the run-up to the general election on 8 June.
Peel Hunt upgraded Bellway to 'add' from 'hold' and went the other way on Savills as it took a look at UK housebuilders and estate agents.
Sky: Jefferies upgrades to Buy with a target price of 1200p.
FTSE 250 estate agent Savills said on Thursday that results for the year to the end of December are likely to be "meaningfully ahead" of its previous expectations following a strong finish to the year.
Polypipe: Berenberg maintains buy with a 360p target.
Standard Chartered's rating was downgraded to 'hold' from 'buy' and its target price was left at 650p by HSBC on Wednesday.
Savills got a boost on Wednesday as Citigroup upgraded the stock to 'buy' from 'neutral' following solid first-half results.
Real estate agent Savills posted an 11.5% increase in first half underlying pre-tax profit on Tuesday, as strong growth in residential revenue offset a fall in commercial transactions.
UBS initiated coverage of the UK estate agent sector on Wednesday, with Foxtons and Savills at 'buy', Countrywide at 'neutral' and Purplebricks at 'sell'.
Friday's sharp drops among shares of UK homebuilders and real estate outfits saw executives from several outfits step-in to pick-up some shares.
International real estate advisory firm Savills announced a fresh investment on Friday, confirming that is proprietary investment subsidiary Grosvenor Hill Ventures has taken a minority stake in YOPA Property, by participating in its £16m equity fundraising.
Savills confirmed UK commercial and residential property activity has slowed in the run up to the UK's European Union referendum, but that its expectations for the year remain unchanged.
Real estate advisor Savills announced the appointment of Nick Ferguson - currently chairman of Sky - as a non-executive director with immediate effect.
International real estate firm Savills said underlying full year results for the full year will be ahead of previous expectations boosted by its investment management business although it warned that global economic uncertainty and rising interest rates would result in a "tempering" of transaction volumes.