Shares in Countrywide and LSL Property Services nudged down after the estate agencies confirmed merger talks.
The estate agencies issued separate statements ahead of the market opening in response to a weekend Sky News report that they are in discussions over a £500m all-share merger. The UK’s takeover rules mean the pair must confirm a deal by 5pm on 23 March.
Shares in Countrywide closed down 0.18% at 339.6p, valuing the company at £111m. LSL, which has a market capitalisation of around £355m, closed down a penny at 340p.
Intu was the day’s top gainer, rising 11% to close at 15p.
Markets globally have fallen as fears over the spread of the coronavirus and its economic impact mount. The FTSE 100 closed down 247 points at 7,156, while the FTSE 250 dropped 670 to 21,109.
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