Housing data hits shares index

The FTSE 100 Index fell 37.74 points to 7,310.88 yesterday after slumps across housing and travel stocks.

Disappointing Rightmove housing data, which showed a weakening of house prices in May, pulled down the likes of Barratt Developments, Taylor Wimpey and Berkeley.

Barratt, the UK’s largest housebuilder, was down 26.8p at 586.8p, while Taylor Wimpey shed 6.1p to 171.5p.

Estate agent Foxtons saw shares dive after it said there was no recent improvement to a “very challenging” London property market, as buyers were put off by Brexit uncertainty. Estate agent Foxtons reported revenue of £23.8 million for the three months to March 31, down from £24.5m a year earlier. Shares fell 2.8p to 57.2p.

Dundee-registered Low & Bonar was down

Oil prices rose on suggestions Opec was likely to maintain output cuts

3.5p at 10.9p after it warned of a hit to its full-year performance and said its boss was stepping down. The building materials company announced the departure of chief executive Philip de Klerk after the board decided a “change of leadership” was required.

City Pub Group rose marginally after sales jumped by more than a third since the start of the year. The pub operator, which owns 45 sites, reported a 35% surge in sales for the 19 weeks to May 12 2019, as it was buoyed by new openings.

Shares

£2.29.

Oil prices rose after Saudi Arabia suggested the Organisation of the Petroleum Exporting Countries was likely to maintain output cuts. Brent crude was up by 0.1% to $72.1 a barrel. rose 1.5p to Two north-east firms have cemented a partnership established at the turn of the century by extending it into the next decade.

ARR Craib will continue to provide all of the UK transportation and logistics requirements for John Lawrie Group and its two divisions, John Lawrie Metals and John Lawrie Tubulars.

The firms have worked together since 2000 and they say the agreement to extend that relationship will support the growth of both businesses. The contract is valued at £3million a year.

Due to the nature of its operations with metal recycling, decommissioning and steel tubular work, John Lawrie Group requires a logistics partner that can accommodate the diverse range of cargo it transports to and from its four existing Scottish sites and across the UK.

John Lawrie said ARR Craib has been able to deliver this as it operates the largest general haulage fleet in Scotland with more than 225 vehicles from small vans to 44-tonne artic lorries, and 400 trailers, including curtain-siders, flatbeds, bulk tippers, double-deckers and lowloaders.

Earlier this year, John