Home in on Berkeley

By This Is Money
Updated: 00:00 BST, 30 June 2004

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HOUSE-建設業者 Berkeley Group awarded spread-betters a 大規模な cash 特別手当 last week. A 決定／判定勝ち（する） to 出口 the 伝統的な house building market and return £1.4bn to 投資家s was a 完全にする surprise.

仲買人s woke up to news of their '住宅 認める' as 株 急に上がるd by a 大規模な 30%. きびきびした 貿易（する）ing 許すd most spread-betters to の近くに long positions and lock in 利益（をあげる）s.

Interestingly, many re-投資するd their windfall in building 在庫／株s such as Redrow and George Wimpey - all up several パーセント. The logic behind these new 貿易（する）s 残り／休憩（する）s on hopes that 部門 CEO's will be いじめ（る）d into に引き続いて 控訴. But some 仲買人s point to a different historical fact.

Those with long memories will 解任する that Berkeley called the 最高の，を越す of the last 住宅 にわか景気, and 積極性 sold land 資産s just before the 所有物／資産／財産 衝突，墜落.

Could this be another example of shrewd タイミング by managing director Tony Pidgely? If so, this is a danger signal for the whole 部門. One thing is for sure, the next few months will see 株式市場 whispers and busy spread-betters.

A week for windfalls: Centrica 発表するd frenzied 利益／興味 in the sale of its road-味方する 援助 group, the AA. Britain's largest gas 供給者 saw a 3% rise in 株 price, and spread-betters are 賭事ing that more 伸び（る）s are coming soon. にもかかわらず the 満期 of the supposed 企て，努力，提案 最終期限, 週末 圧力（をかける） 報告（する）／憶測d 競争相手 利益／興味 from as many as three 可能性のある suitors. If true, Centrica 株 will 加速する higher.

どこかよそで, Vodafone has seen a ground-転換 in newsflow. Former 長，指導者 (n)役員／(a)執行力のある Chris Gent had an invaluable knack of 支持を得ようと努めるing both the City and the 圧力（をかける）. But spread-betters were の中で the first to notice a subtle and perhaps irreversible change of 強調. No longer focussing on 肯定的なs, commentators are 最高潮の場面ing 危険s, 特に those from Japan. Last week's 消極的な rhetoric 軍隊d 株 負かす／撃墜する by almost 3%. A 高くつく／犠牲の大きい 転換 in 感情.

Looking ahead, 仲買人s are 用心深い ahead of tonight's 連邦の Reserve 会合. Markets and spread-betters are 堅固に 焦点（を合わせる）d on Alan Greenspan and the likely rise in US 利益／興味 率s. 推定する／予想するd to 増加する bank 率s by a ４半期/4分の1 of a 百分率 point. Anything different will shake world markets. But assuming the chairman 成し遂げるs to his 安定した best, 仲買人s will breath a sigh of rel ief 許すing both the Dow and the FTSE to climb 刻々と.

? This column is written by easy2spreadbet.com. For more news, 見解（をとる）s, commentary and 道具s, click here.