The TCI Equity Index compiled exclusively for us by the London Stock Exchange Group (LSEG) reaches the year ending February 2020 Highs, but plummeted 40% a month later as the first wave of lockdowns rolled out.
The index gradually recovered, never falling below the 100-point mark between February 2021 and January 2022.
However, the huge impact of Brexit has pushed up material prices and the cost of living. Both factors subsequently weighed heavily on construction stock prices.
Many large contractors challenge doomsday mongers in the broad industries that support their operations, but one of the few smaller listed contractors, NMCN, takes on New York The city’s appetite for low-margin contracting has done little.
The broader economic fallout from Russia’s invasion of Ukraine in March pushed the index to its lowest point since the 2020 Covid-19 outbreak.
The index has recovered and is 3.7% higher this summer than it was a year earlier, even as concerns over material and labor prices weighed on New York City’s view on contractor stocks, But it is still down 11% from a four-year high.
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