FTSE 100 is dragged down by mining and housing stocks
On Thursday, British stocks edged down, having their first loss for five trading sessions. It’s because home builders stocks edged down after a gloomy outlook on house prices.
The FTSE 100 sagged 0.7%, trading at 6,257.33, with just the utility group boasting advances. On Wednesday, the number one British index soared 0.3%, thus notching a fourth revenue.
On Thursday, housing stocks descended after the Royal Institution of Chartered Surveyors predicted that home prices in Great Britain would sink over within the next three months.
Stocks of Taylor Wimpey PLC edged down 4.3%, Persimmon PLC gained 2.4%, Barratt Developments PLC sank 2.7% and Berkeley Group Holdings PLC tumbled 4.1%.
The financial markets are currently facing a short term dip generated by the uncertainty coming from the approaching EU referendum. Moreover, market participants are also concerned with a slowdown, which followed the rush to get into the market ahead of the long-awaited tax change on the purchased of investment properties.