A strong day’s trading in London, with the FTSE 100, 250 and 300 all gaining between 8% and 9% by the close of the markets.
After the Financial Conduct Authority’s recommendation that listed companies delay some results announcements, there were further postponements from several property-focused firms, including Countrywide (which closed up 8%), Regional REIT (up 14.5%), PRS REIT (up 1.6%) and AIM-listed proptech firm Essensys (up 8%).
Housebuilder Redrow was up almost 8%. The company cancelled its dividend today and warned that the spread of the coronavirus will mean an “inevitable” hit to sales and output in the coming weeks.
The company joined several other construction firms and developers in downing tools and closing sites today, including Taylor Wimpey (up 2%) and Barratt Developments (up 5.4%).
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