Shares in housebuilder Taylor Wimpey have edged down on its latest trading update, which disclosed a 68% dive in pre-tax profit.
Despite a surge early in the day, Taylor Wimpey’s stocks later fell to end the session down by 0.4% at 165.9p. The housebuilder’s revenue fell by 35.7% to £2.8bn in 2020 but its forward order book stood at a record 10,685 homes.
Other notable falling housebuilder stocks included Barratt Developments, which was down by almost 2% to end the day at 684.2p, and Crest Nicholson, which inched down 0.7% to 339.2p.
The declines come after the latest data from the Nationwide House Price Index showed a 6.9% year-on-year growth in house prices.
In the FTSE 100, which nudged up by 4% at 6,613 points, British Land was the biggest real estate faller, declining by 2% to 490.9p.
Savills posted the most significant real estate decline in the FTSE 250, down by 4% at 1,121p.
On the other end of the scale, stocks in FTSE 250 peer Hammerson rose by 5.2% to finish the session at 28.9p.
The FTSE 250 ended the day down 0.2% at 21,177 points.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
