Merchant shares rise on Budget measures

Published:  25 March, 2013

Merchant share values have risen following Budget measures to boost housing.

Travis Perkins shares rose for a sixth day – the longest streak in more than five months – after analysts said the builders’ merchant may profit most among its peers from Budget initiatives to assist home purchases.

Travis Perkins “stands to benefit most from any increase in activity” because it has about “25 percent exposure to the new residential sector”, analysts at Goodbody recently said.

Howden Joinery, which makes fitted kitchen units, has risen 32 percent.

Grafton rose 1.3 percent in Dublin trading. Wolseley retreated 1 percent but from a five-year high reached recently.

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