Building and banking stocks fuelled the continuing downward direction of the FTSE 100 today, as the index fell by 0.86% to 5827.3 at the close of trading.
Persimmon and HBOS led the day’s biggest losses, falling by 9.62% and 4.89%, respectively.
Persimmon sustained the day’s biggest losses following industry reports that UK housing transactions have begun to collapse, as well as Goldman Sachs having lowered its stance on the company to ‘sell’ from ‘neutral’.
HBOS faced losses following speculation over the group’s fundraising.
Cairn Energy and Tullow Oil were the day’s biggest winners, climbing 3.92% and 3.32%, respectively.
In the US, afternoon trading has caused the Dow Jones to rise by 0.22%, with Merck Co Inc and Du Pont falling by 1.62% and 1.43%, respectively.
Coco Cola is among the day’s biggest winners so far and is being kept company by banking stocks which are also on the up, with JP Morgan Chase and Citigroup rallying by 4.16% and 3.32%, respectively.
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