Above page content

    Site map  Cookie policy

Market Movers

House builders slump as Carney cuts funding

House builders were the biggest losers today after Bank of England governor Mark Carney cut a major mortgage lending subsidy.

Garry white employee

Garry White

in Market Movers


House builders were the biggest losers today after Bank of England governor Mark Carney cut a major mortgage lending subsidy.

Trading was thin as Wall Street is closed today for the Thanksgiving holiday and will close early on Friday.

The FTSE 100 was up 0.2% in late afternoon trade.

FTSE 100

Persimmon -6.6
The house building sector plunged after the bank of England said that banks will no longer receive subsidised funding to boost mortgage lending and personal loans in 2014, in a change to its Funding for Lending Scheme (FLS). Taylor Wimpey shares fell 6.6%, Bovis Homes lost 7.5% and Barratt Developments lost 5%.

Kingfisher -5.2%
The owner of the DIY chain B&Q said same-store sales had risen 1.4% although it warned that challenges remained, especially in its French business.

Imperial Tobacco -2%
Press reports suggested that the government may make a u-turn on its plans to introduce plain packaging for tobacco products. Shares in British American Tobacco fell 0.6%.

Wolseley -1.4%
Plumbing and heating group Wolseley said revenues rose solid 7.4% in its first quarter, boosted by performance in the US and UK.

Rio Tinto +4.8%
The world’s third-largest miner confirmed plans to increase its iron ore production by 25% in Western Australia, but said it would need less investment than previously expected.

Barclays +2.1%
A US regulator has ordered Barclays Capital to pay New York based trader Dong Kun Lee $2.1m after the bank fired him in connection with the Libor fixing scandal.

FTSE 250

Thomas Cook +14.4%
The holiday group posted its first annual operating profit since 2010. The news boosted peer Tui Travel (+1.4%).

Pennon +1.7%
The utility group, which owns South West Water and waste business Viridor, raised its interim dividend by 7.2%.

IG Group -4.1%
The Treasury will discuss the tax exemption of spread betting after peers raised concerns about “extraordinary tax avoidance” on the trades.

Nothing on this website should be construed as personal advice based on your circumstances.  No news or research item is a personal recommendation to deal. 

Get in touch

Find out more

Our focus on clients has endured since the foundation of Charles Stanley in 1792 and has helped make us one of the UK's leading wealth management firms. Your interests give shape to everything we do.

Please call us to talk about your circumstances or complete the enquiry form.

020 3797 1783

Make an enquiry


We store your data in accordance with data protection legislation and our privacy notice. You can unsubscribe at any time by clicking the link in our emails or emailing us

Local Office

Your local office

Your local Charles Stanley office can help advise you on a wide range of investment management services.

Select an office


Newsletter banner signup