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Market wrap: FTSE bloodbath leaves real estate floundering

Few stocks escaped a sea of red in London trading today, as worries over the economic effect of fresh coronavirus restrictions across Europe sent shares prices tumbling.

The FTSE 100 shed 2.5% to finish at 5,582 points, a low of more than six months, having fallen as low as 5,525 during the day.

Just four FTSE 100 companies saw their share prices rise – Admiral Group, Next, Ocado and B&M – and none of them by more than 1%.

Among the heaviest fallers, housebuilder Taylor Wimpey was down by 4.4%, while British Land lost 4.2%, SEGRO 2.7% and Landsec 2.4%.

In the FTSE 250, which ended down 1.9% at 17,248, there were notable falls for housebuilders Balfour Beatty and Redrow, as well as Derwent London.

Real estate risers were rare, but some managed an uplift, most notably Capital & Regional, up 6.2% to 37.7p. Also trading up were Countrywide, BMO Commercial Property Trust and Shaftesbury.

To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette

Photo by Simon Belcher/imageBROKER/Shutterstock (4557084a)

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