0948 GMT - Bellway continues to show signs of momentum despite headwinds in the property-development industry, Interactive Investor analyst Victoria Scholar says in a note. Elevated interest rates and mortgage affordability is denting consumer confidence amid an elevated inflationary backdrop, with uncertainty over the speed at which the Bank of England can loosen monetary policy, Scholar says. Still, despite a lacklustre share-price performance over the past year, analysts remain optimistic on the stock. Most maintain a buy recommendation, she says. "Bellway has delivered a solid update with 14% growth in housing completions and projected growth of a further 5% year-on-year," Scholar says. Shares are up 1.5% at 2,474 pence but are down 12% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
August 12, 2025 05:50 ET (09:50 GMT)
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