Warnings about the impact of interest rates on new house build demand caused the FTSE 100 index to close down on Tuesday, along with continued profitability pressure from the oil price.
The FTSE 100 index dropped 44.50 points or 1% to 4641 while the FTSE All-Share index fell 21.95 points or 0.9% to 2303.66. Wimpey, the UK’s biggest homebuilder, reported the five Bank of England base rate reductions since last November have now taken their toll on house sales as demand for new homes has fallen. Its share price closed down 9.75p or 2.513% to 378.25p. The price of crude oil is still climbing fast as the situation in the Middle East still looks unstable. BA eventually closed down 5.25p or 2.56% to 199.5p as crude oil rose to $54.45 a barrel in New York today. Mobile p...
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