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Homebuilders, travel stocks halt FTSE 100's three-day surge

Published 27/03/2020, 09:35
© Reuters.
UK100
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PSN
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CCL
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RDW
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TW
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FTMC
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BKGH
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 3.6%, FTSE 250 slides 3.0%

March 27 (Reuters) - Britain's main share index fell on
Friday, with losses in travel and homebuilder stocks halting a
three-day rally fuelled by stimulus actions to avert an economic
meltdown due to the coronavirus crisis.
The FTSE 100 .FTSE fell 3.6% by 0827 GMT, with
homebuilders such as Berkeley Group BKGH.L , Taylor Wimpey
TW.L and Persimmon PSN.L dropping between 5% and 10% after
the UK government urged people to avoid moving house during the
virus outbreak. Shares in one of Britain's largest housebuilders Redrow
RDW.L fell 6% after revealing it was in talks with six banks
to secure additional credit and had applied to take part in the
Bank of England's scheme for financing support. Carnival Corp CCL.L slumped 10.9% to the bottom of the
index, while the domestically focussed midcap stocks .FTMC
declined 3.0%.
However, both the main indexes are on track for strong
weekly gains as central banks and governments globally ramped up
stimulus measures. The UK government said on Thursday it would
pay a taxable grant to self-employed people who have been
adversely affected by the pandemic.

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