Another day of green on the London market – a rise of almost 3.5% for the FTSE 100, 4.6% for the FTSE 250, and close to 4.5% for the FTSE 350.
Picton Property was among the top gainers across the FTSE All-Share, the small-cap REIT’s shares gaining more than a quarter over the course of trading.
As the wave of housebuilders scrapping dividends grew, their stocks saw mixed fortunes as they spelled out to the market the broader effects of the spreading coronavirus on their businesses.
Barratt Development and Vistry Homes, both of which announced the cancellation or postponement of dividends this afternoon, saw a rise of 4.5% and a fall of 5%, respectively.
Risers in that sector were McCarthy & Stone (up 17.7%), Persimmon (up 15%), Taylor Wimpey (6.9%), Berkeley (5%), Crest Nicholson (2.3%) and Redrow (1.1%). Joining Vistry in dropping over the session were Bellway (down 1.5%) and Countrywide (-0.6%).
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