U.K. Homebuilders Navigate Supply Chain Issues: The London Rush

(Bloomberg) -- Here's the key business news from London-listed companies this morning:

Persimmon Plc: The U.K.'s biggest house builder said it navigated the supply chain challenges posed by the pandemic, with its ownership of manufacturing operations for materials like bricks and tiles mitigating the issue.

Industry peer Vistry Group Plc said it has clear visibility on material supplies, but noted that the cost of labor is starting to increase

Aviva Plc: The U.K.-based insurer and asset manager boosted its shareholder returns to 4.75 billion pounds, as it reported adjusted operating profit slightly below estimates.

The company also said it will buy financial planner Succession Wealth for 385 million pounds, strengthening its position in the U.K. wealth market

Polymetal International Plc: The gold producer, which makes most of its revenue from Russia, condemned the conflict in Ukraine, saying the developments “are likely to require a lot of management efforts to maintain company performance.”

Outside The City

U.S. President Joe Biden labeled Vladimir Putin a “dictator” in his first State of the Union address, saying the Russian president would pay a high price for his invasion of Ukraine. Russia said it would press forward with its military advances, as the war enters a more brutal stage. It comes after the European Union identified seven Russian banks it's considering excluding from the SWIFT financial-messaging system.

In Case You Missed It

Glencore, the world's largest commodities trader, will review its stakes in En+ Group International PJSC and Rosneft Oil Co PJSC amid the fallout of Russia's invasion of Ukraine, while U.K. energy supplier Centrica Plc plans to exit its gas supply agreements with Russian companies as a matter of urgency, the company said on Tuesday.

BP Plc has become the only major oil company to have more women than men in its top group of executives, bucking the status quo in a male-dominated industry.

Looking Ahead

London Stock Exchange Group Plc will report results tomorrow. Last week, it suspended Russian bank VTB Bank PJSC from trading on the market.

Also on Thursday, data on the U.K. services sector will give an insight into how businesses fared in February -- the month England scrapped its remaining Covid-19 restrictions.