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U.K. stocks halt rally as homebuilders slide amid housing slump

Hong Kong stocks

U.K. stocks fell for the first time in six days after a report showing a slump in the country’s housing market after Brexit weighed on shares of homebuilders.

Taylor Wimpey Plc, Travis Perkins Plc and Persimmon Plc fell more than 2.3 per cent after data from the Royal Institution of Chartered Surveyors pointed to the fastest decline in housing transactions in July since the global financial crisis in 2008. Old Mutual Plc slid 5.8 per cent after lower equity markets and wide currency swings weighed on first-half profit.

The FTSE 100 Index dropped 0.6 per cent at 9:19 a.m. in London. The benchmark rose for the past five sessions, the longest stretch of gains since the rally leading up to the U.K.’s referendum on its European Union membership. The FTSE 250 Index of mid-cap shares also declined 0.6 per cent today.

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Paul

The author Paul