After Busy Trading Day London Markets Down By 3%

The FTSE 100 recovered some of its earlier losses, despite markets initially falling on news that the UK had voted to leave the EU

Karen Kwok 24 June, 2016 | 5:48PM
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The FTSE100 avoided a full scale rout, and closed today down just 3% at 6138.69  - higher than it was at the start of this week. This is despite the market falling to 5806 in early trading.

However the FTSE 250 suffered a more significant loss - down 7.19% on the day. European markets also felt the fallout from the EU Referendum vote, with the Dax in Frankfurt down 6.8% on the day - its worst day since the financial crisis in 2008. The CAC in Paris shed 8%, Madrid fell 12% while the Milan stock market was down 12.5%.

Homebuilders and Banking Shares Led Declines in FTSE 100

The biggest faller of the day in FTSE 100 was homebuilder stock Taylor Wimpey (TW.), falling an eye-watering 29.3% on the day. Other major housebuilding stocks suffered similar losses:   Persimmon (PSN) lost 27.6% to close at 1520p, while shares of Barratt Developments (BDEV) were down 23.8% to 439.80p. Property development company Berkeley Group Holdings (BKG) fell 21% to 692p.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Barclays PLC177.12 GBX-1.17Rating
Barratt Developments PLC733.80 GBX0.41
Berkeley Group Holdings (The) PLC4,651.00 GBX1.64
Frasers Group PLC578.00 GBX1.40
Fresnillo PLC833.20 GBX-0.57
Lloyds Banking Group PLC47.70 GBX-0.46Rating
Morgan Stanley91.10 USD0.44Rating
NatWest Group PLC205.20 GBX-0.39Rating
Persimmon PLC3,085.00 GBX-0.19
Taylor Wimpey PLC167.90 GBX0.12
Vodafone Group PLC130.16 GBX-1.39Rating

About Author

Karen Kwok

Karen Kwok  is a Reporter for Morningstar.co.uk

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