Thursday, Jun 07, 2007
UK property stocks takes a hit
Hargreaves Lansdown: FTSE 100 fallers
Not an article, but I note that two UK property related companies have taken a battering today. Persimmon PLC and Land Securities (both down around 3.3% so far today) currently top the league of biggest FTSE fallers. I wonder what investors know that we don't, which has spooked them into selling. Any ideas?
Posted by uncle chris @ 03:36 PM (307 views) Add Comment
7 Comments
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1. Orwell said...
Well if both the equities 'market' and the property 'market' are going to take a caning then is it any wonder?
2. dohousescrashinthewoods said...
Spotted Kensington is down 3% and paragon is down 2% (sub prime and BTL) so not just the commercials.
Traditionally commercial and residential property aren't strongly correlated (I believe) so, do the markets know something we don't about residential property too?
3. Andy said...
Should be, "I wonder what investors don't know that we do".
Need to check if its the boardroom who's selling.
4. dohousescrashinthewoods said...
Just put in a few bullbearings virtual spread bets ;)
(not that I really know how spread betting works, but I think I'm about to find out)
5. Rover2000 said...
Worth pointing out that float of Vector Hospitality was pulled "over fears that property prices are set to go into reverse." According to the Times. Vector are involved in hotels.
http://money.cnn.com/news/newsfeeds/articles/djf500/200706070209DOWJONESDJONLINE000403_FORTUNE5.htm
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7. Christopher1955@hotmail. Com said...
I would go for the broker’s recommendation and buy the shares. This demonstrates the long term confidence in the housing market.