Property companies are still failing to make up post-referendum losses as markets opened today.
Two weeks on from the vote, markets opened with losses across FTSE 350 real estate investment trusts and services, undoing steady rises seen last week.
Eight companies, including CLS Holdings, St Modwen and Workspace, opened at lower prices than at close on 27 June, the day of the biggest losses in the industry.
So far, St Modwen has lost 35% of its pre-referendum value.
With a loss of 34%, Countrywide’s value has steadily been declining since 27 June and is now 7.9% lower than on close that day.
Meanwhile, Daejan Holdings and Assura have risen 13.1% and 10.6% respectively – the only double-digit gains in the industry. Both companies are still down by 11%.
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