Barratt boss buys after rally

Barratt's chairman Bob Lawson failed to benefit from a share price rally as he bought into the housebuilder after today's trading update.

Lawson, who became chairman in July, bought 61,308 shares at just over 81.5p a share, or a total of about £50,000.

The shares had jumped more than 10% after Barratt staved off talk of a cash call by saying that based upon current trading and its detailed forecasts, it expects to continue to comply with its financial covenants.

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Following the purchase, Lawson has about 213,000 shares in the firm.

While missing out on today's rally, Lawson has seen strong gains in the value of his first purchase of shares in the firm.

Back in November he bought 151,841 shares at 65.3p a time.

The shares are still down by about 80% on the year though, reflecting tough conditions in the housebuilding sector.

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