Homebuilder warning drags FTSE

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The FTSE fell 0.14%, or nine points, to 6339.5p this afternoon after investment bank Dresdner Kleinwort advised clients to sell UK homebuilder shares.

Taylor Wimpey fell 7.32%, or 14.2 points, to 179.8p. Schroders continued its fall after analysts downgraded its stocks, dropping 6.32%, or 76 points, to 1126p. British Energy Group rose 6.13%, or 33 points, to 571.5p after Cazenove raised its price estimates. GlaxoSmithKline rose 3.68%, or 47 points, to 1323p. In the US, the Dow Jones rose 0.25%, or 32.43 points, to 12832.61c as Altria Group rose 3.06%, or 2.29 points, to 77.19c. Home Depot rose 2.48%, or 0.62 points, to 25.58c. Alcoa fell 5.48%, or 1.91 points, to 32.96c while Boeing dropped 3.31%, or 2.84 points, to 82.98c. T...

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