Housebuilders Roughest Month In A Decade

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Tuesday, 2nd July: Housebuilders were left to fend for themselves on the blue-chip index today as fresh data revealed the biggest drop in overall construction activity for more than ten years in June. Persimmon was leading in declines within the sector, trading more than 2.0% lower during the first half of the trading day.

Media giant WPP was also at the bottom end of the FTSE 100 following news that they have entered exclusive talks regarding the sale of their stake in Kantar Group which has a value of c. $4 billion, as part of the new Chief Executive plan to tighten up the operations within the group and distance itself from activities which no longer fit into his new plan.

Making the most noticeable change on the FTSE 250 today is Funding Circle Holdings, which was trading almost 30.0% lower at the end of the day after a trading update which was accompanied by a warning that revenue was to be lower than expected, although EBITDA is expected to be better than expected, but still in negative territory.

Trading platform Plus500 was at the top of the FTSE 250 following their interim update which revealed an impressive 74% increase in revenue during the second quarter in comparison to the first quarter, and that trading is in line with new expectations, which were lowered in February and hurt the share price.

The FTSE 100 continued to climb throughout the day and closed 0.82% higher at 7559.19.

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