City File: Victims remain
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.AT THE other extreme from the reliable utilities are the victims of the recession - the property, construction and building materials companies - whose shares now stand at a fraction of their value of three or four years ago.
To judge by the market's reaction, you would think that all their troubles were behind them.
This is clearly ridiculous, particularly for property companies. No imaginable economic recovery will alter the chronic oversupply of office space in the City, so the recovery provides an ideal opportunity to bail out. With building shares, the recovery may be real but it will be delayed long enough to make last week's price rises look premature and exaggerated. Laing, for instance, soared 26p to finish the week at 140p. Good company, yes, and one that took its property losses on the chin, but, to use the old phrase, there's not much to go for.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments