BRITAIN: Britain’s FTSE 100 fell to a three-month low on Friday, dragged down by homebuilder Vistry following a profit warning, while China-exposed stocks took a hit from lacklustre stimulus updates from Shanghai.
The blue-chip FTSE 100 dropped 0.8%, having fallen about 1% earlier to its weakest level since August 8. The index logged its third straight weekly decline.
Shares in Vistry plummeted nearly 16% — the steepest drop among FTSE 100 components — after issuing its second profit warning in a month, citing ongoing cost pressures in its South Division.
That dragged the FTSE 350 housebuilder index to a near one-year low. Peer Persimmon recently flagged concerns over escalating costs for 2025 projects. “Vistry’s latest update offered further evidence that build cost inflation is back with a vengeance for the construction sector,” said AJ Bell investment director Russ Mould.
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Source: Brecorder
