Taylor Wimpey records biggest fall with 21% drop in share price, while Persimmon prepares to exit the FTSE 100
Shares in housebuilders have continued to plummet this morning after hundreds of millions of pounds were wiped off the value of the sector in the last few days.
Taylor Wimpey led the falls, with share prices collapsing a further 21% this morning after a 20% fall in value since Monday. Shares were trading at just 51.25p in mid-morning trading.
Barratt shares also fell 18.6% following falls of 35% over Monday and Tuesday. Yesterday a negative note by city analysts Dresdner Kleinwort withdrew its target price for the company saying it could not see a clear future for the firm.
Shares in Bellway, Persimmon and Redrow all fell between 8% and 10%. Persimmon will also today exit the FTSE 100 list as the FTSE reassesses its list of the largest 100 listed companies today. Persimmon is the last housebuilder in the FTSE 100.