House-builders lose a third of market value
Britain’s big publicly-quoted house-building companies are among the biggest losers on the London Stock Exchange in the week since the result of the EU referendum was announced.
In general stock prices hit their lowest ebb on Monday before regaining some ground as the week progressed.
However, a league table of Brexit blue-chip winners and losers produced by stockbrokers Hargreaves Lansdown had four house-builders among its top 10 worst performing companies of the last week, with Taylor Wimpey and Persimmon each losing more than 30% of their capital value.
Between close of trading on referendum day, before the result was known, Taylor Wimpey’s share price was 192.4 pence. A week later it was 132.3p.
Persimmon fell from 2098 pence to 1447p over the same period.
Barratt Developments fell from 577.5p to 405.4p.
Berkeley Group fell from 3285p to 2523p.
Construction contractors did a little better, but not much. Balfour Beatty was down from 256.4 to 215; Kier from 1252 to 1053; Galliford Try from 1321 to 912.4; and Carillion 278.8 to 233.8.
Morgan Sindall seems to have got off comparatively lightly, falling from a pre-referendum price of 731.5 to 595 on Monday before climbing back up to 657 by Thursday close.
- Click here to return to the previous page
- Subscribe to our free construction newsletters
- Buy & Sell Construction Plant Machinery online with TCiTrader.co.uk. Find new, used & reconditioned Construction Equipment. Click here to view Construction Equipment Classifieds.
Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.
This article was published on 1 Jul 2016 (last updated on 4 Jul 2016).