Housebuilders fall on Brexit jitters

The blue chip index was in negative territory despite gains on Wall Street and in Asia, as investors were concerned about the implications of Brexit and awaited the European Central Bank’s latest rate decision.

The FTSE 100 nudged lower to 7,018

Housebuilders, which struggled immediately after the Brexit vote, fell in response to market fears. Taylor Wimpey (TW.), Barratt Development (BDEV), Persimmon (PSN) traded up to 2.3% lower.

West Texas Intermediate (WTI) crude oil declined 1% to $51 and Brent crude oil fell 0.9% to $52.18 per barrel, respectively.

Gold and copper were flat at $1,267 per ounce and $4,629 per tonne, respectively.

Retail sales rose 4.1% in September, compared with the year before, with the largest contribution from non-store retailing.

FTSE 100 RISERS AND FALLERS

The market dug miner Rio Tinto (RIO) following strong third quarter production figures. Iron ore output was 2% higher than a year ago, while copper and aluminium production both experienced double-digit increases.

FTSE 250 RISERS AND FALLERS

A profit warning from components and systems maker Senior (SNR) caused shares to fall 12.5% to 177p. The engineer warned its aerospace division was impacted by a slower than expected ramp up in new programmes, supplier issues and price increase discussions, while its flexonics arm encountered weakness in the oil and gas and truck markets.

Ground engineering group Keller (KLR) crashed 27% to 645.5p after cautioning full year results will be approximately 15% below market estimates, mainly due to underperformance in its Asia Pacific division.

Shares in IT assurance business NCC (NCC) collapsed 35.4% to 223.3p as CEO Rob Cotton warned of various setbacks in the assurance division, including three large contract cancellations, would impact profitability between the first and second half of the financial year.

Investors were pleased with digital loans provider International Personal Finance (IPF) following 9% growth in credit issued for the third quarter. This was driven by a return to growth in Mexico, a good performance in Southern Europe and a strong performance from its digital business.

CEO of airport food seller SSP (SSPG) Kate Swann announced a joint venture to take her charge into the Indian travel food and beverage market.

SMALL CAP RISERS AND FALLERS

Shares in Georgia Mining (GEO) shot up 33.3% to 12p after reporting high grades from its drill programme, which suggests a significant resource at the Kvemo Bolnisi project.

Regulatory reporting solutions provider Lombard Risk Management (LRM) reached a record first half revenue of £15.2m, which is 41% higher than £10.8m in 2015. Shares climbed 18.6% to 8.6p.

IXICO (IXI) signed a new $1.2m contract with a top phama company for advanced imaging clinical trial services in rare neurodegenerative disease, progressive supranuclear palsy.

Story provided by StockMarketWire.com