Shares in Berkeley Group nudged down today, after the firm insisted that the pandemic-driven trend for people moving out of London for larger homes was not a structural shift.
The upmarket housebuilder’s stock fell 0.5% in value to 4,620p, as it reported a 2.9% rise in annual pre-tax profit for the year to April 30 to £518.1m.
The figure was slightly ahead of the £516m that analysts had predicted, yet still far behind the company’s 2019 levels.
Elsewhere, the biggest faller on the FTSE 250 was West End landlord Shaftesbury, whose shares dropped 3.1% to 595.5p, while neighbouring REIT Capital and Counties fell 1.4% to 170p.
Of the blue chip REITS, British Land rose 0.4% to 518.8p, while Segro fell 0.5% to 1,101p. Landsec was largely flat for the day.
The broader FTSE 100 finished lower after a late sell-off despite trading with early gains, finishing 0.2% down at 7,074 points. The FTSE 250 fell 0.1% to 22,659 points.
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