Berkeley chief executive sells shares worth £12m

Berkeley (BKG) is one of the few UK-listed housebuilders not to be punished by investors over the past 12 months, as concerns mount that we may have reached peak cycle. That is despite the high-end London housebuilder warning that profits had probably maxed out in 2018, subsequently reporting a decline in pre-tax profits of around a fifth during the 12 months to April.