Shares fall as housebuilders are punished
THE FTSE 100 ended in the red yesterday as housebuilders and mining stocks weighed on the index.
London’s blue chip market suffered a fall of 58.71 points, or 0.83 per cent, to close at 6,980.24, with Antofagasta, Fresnillo and Anglo American all ending in negative territory.
Fiona Cincotta, senior market analyst at City Index, said: “The heavy weighted miners were taking a beating after manufacturing data from China overnight highlighted the growing impact of the US trade war.”
Housebuilders were also under pressure following Nationwide’s latest index.
It showed house price growth picked up in November from a previous five-year low, but the market remains “subdued”, the building society concluded.
Property values increased by 0.3 per cent month on month, compared with 0 per cent growth in October.
Taylor Wimpey shed 4.55p to
.83 Percentage fall in the value of the FTSE 100 at close of trading last night
end at 134p, Barratt Developments closed down 10.5p at 462.2p, Berkeley Group lost 80p to end at 3,226p and Persimmon dropped 65.5p to 1,900p.
The pound also came under pressure, with Brexit once again guiding the hand of currency traders. Sterling dropped 0.2 per cent versus the US dollar at 1.276. Against the euro, the British currency was up 0.5 per cent at 1.127.
In Europe, Germany’s DAX was down 0.36 per cent while France’s CAC 40 lost 0.1 per cent. A barrel of Brent Crude was trading one per cent lower at 59 US dollars.
The biggest risers on the FTSE 100 were GlaxoSmithKline up 24p at 1,621.6p, Centrica up 1.6p at 137.75p, Shire up 45p at 4,550p and Vodafone up 1.18p at 168.94p. The biggest fallers were NMC Health down 244p at 3,298p, Tui down 79p at 1,117p, Antofagasta down 36p at 800.4p and Melrose Industries down 7.8p at 176.6p.