Building and banking stocks drive FTSE100 down

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 ...