FTSE 100 heads south as home builders lose ground
On Wednesday, British shares dipped, with housing stocks pulling lower, as market participants waited for an update on conditions in the British labor market.
The FTSE 100 sank 0.2%, being worth 6,783.53 after opening modestly higher. A loss on Wednesday would be the index’s first after two sessions of revenues. On Tuesday, the London benchmark edged up 0.6%.
Barratt Developments PLC BDEV went down 2.2% to trade at the bottom of the London benchmark. The home builder told that it had taken pricing action on a series of London sites just because sales rates in the capital have been soft compared with the previous year. Barratt told its overall order book has ascended.
Stocks of other home builders were down. Taylor Wimpey PLC TW edged down 1%, while Persimmon PLC PSN sank 1.1%.
Prudential PLC PRU headed north 0.9% after the insurer reaffirmed its dividend-growth objective as it recorded a 19% ascend in group new business revenue.
The currency pair GBP/USD traded at $1.2477, rising from $1.2439 late on Tuesday.