The FTSE 100 ended the week on a low note on Friday, sliding 1% to close at 6,777.
Housebuilders were the day’s worst performers – Persimmon slid 7% and Barratt lost 6.3%. Commercial property companies were also under fire with Land Securities, British Land and Hammerson losing between 4.4% and 3.4%.
In Europe, the Paris CAC 40 fell 11 points to 4,543, and the German Xetra Dax lost 26 points to 9,912.
In the US, the Dow Jones Industrial Average and the S&P 500 each rose 0.3% to 16,775 and 1,936 respectively, and the Nasdaq Composite was 0.3% higher at 4,310.
Overnight in Japan, the Nikkei 225 slid 1.1% to 14,933 and the broader Topix fell 0.8% to 1,234. And in China, the Shanghai Composite and the CSI 300 each rose 0.7% to 2,085 and 2,191 respectively.
In the forex markets this morning, sterling was trading against the US dollar at 1.6977 and against the euro at 1.2555. The dollar was trading at 0.7395 against the euro and 101.92 against the Japanese yen.
And in the UK, asking prices for property rose just 0.1% in June, according to the latest figures from Rightmove. And in a sign that London’s property market might be cooling, asking prices in the capital fell by 0.5%.