Berkeley update shakes confidence

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Berkeley update shakes confidence

The price of shares in FTSE 100 land developer Berkeley Group (LON:BKG) fell by 5.65% to 4,318p (as of 13:15 GMT) after the firm posted a trading update for the four months ended 28th February. Management said that trading was on track to match last year’s profit levels, but that the value of reservations would be around 20% lower than last year due to rescheduling launches around the end of the lockdown period.

Overall market fundamentals remain positive, but there is still volatility surrounding the ongoing COVID situation and the end of the Brexit transition period.

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