FTSE slides as housing fears realised

Bank Standard Chartered leads the losses with a 24p slip to 929p after spending $3.3bn on buying Korea’s third largest bank to preserve its position in Asia’s third biggest banking market. The deal will be partly funded by the placement of new shares. Hanson, the brick maker, is down 5.75p to 454.5p – a cooling housing market may reduce demand for its products. Dixons is down 1.75p to 151.75p on speculation it is about to announce slower than expected Christmas sales on 12 January. Insurers are being hurt by references to this weekend’s severe flooding in the UK, which could cost ...