Sharewatch

Housebuilders were hit hard last week, probably because investors had begun to calm down after the recent spate of speculation over mergers and takeovers in the sector.

Country & Metropolitan fell 8% to 149p, while the big boys, Persimmon and Wimpey, slipped 4.6% and 2.8% respectively, to 551.5p and 365p. Redrow performed stoically ahead of this week's annual results, rising 3% to 345p.

Another solid performer was Galliford Try, although this was probably as much to do with the improved performance of its construction division in last week's interim results (see opposite) rather than its apparently well-run housing arm. Galliford Try ended the week at 41.25p, an increase of 5.8% from opening time on Monday. Even the group's severest critics ended up recommending buying the group's shares by Friday.

OK, Sharewatch admits to having been a bit hard on Aukett, mocking its low share price as the firm tussles with the market all on its lonesome as the UK's only listed architect.

But is the market any kinder?

After all, what exactly did Aukett do to deserve having 6.2% wiped off its price last week? Nothing at all – but it still ended the week at a paltry 3.75p.