好色先生TV

By Wednesday morning, our imaginary 拢100 punt on Persimmon was worth 拢47. The same stake in Taylor Wimpey, bought at the end of February, was worth 拢38 while in Bovis it had turned into 拢73.

There was some respite on Tuesday after 好色先生TV revealed Taylor Wimpey had reached an agreement with banks to relax its lending covenants without fresh cash.

Taylor Wimpey shares climbed 10% and the next morning the group was bullish about putting pen to paper on the deal in the coming weeks. Norman Askew, its chairman, said he was 鈥渘ot aware of any issues鈥� that would prevent it going ahead by the end of the year.

Beneath the gloomy figures there were glimmers of hope. All three companies used the term 鈥渟tability鈥�, saying that while there were no signs of improvement, neither were things getting worse.

Persimmon said it was 鈥渂umping along at the bottom鈥�, which was widely interpreted as the company calling the bottom of the market. A phone call from Persimmon soon put us right though 鈥� it wasn鈥檛.