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Pin to quick picksTaylor Wimpey Share News (TW.)

Share Price Information for Taylor Wimpey (TW.)

London Stock Exchange
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Share Price: 145.05
Bid: 145.20
Ask: 145.30
Change: -1.90 (-1.29%)
Spread: 0.10 (0.069%)
Open: 145.10
High: 145.35
Low: 143.25
Prev. Close: 146.95
TW. Live PriceLast checked at -

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Sector movers: Housing and property stocks drop on fears of impending rate hike

Fri, 13th Jun 2014 14:12

The prospect of a sooner-than-expected rate rise in the UK pushed property stocks and housebuilders lower on Friday, as investors reacted to comments made by policymakers during the Mansion House speeches.Bank of England (BoE) Governor Mark Carney warned on Thursday that the first hike in interest rates may come sooner than markets predict. Carney indicated that the central bank could tighten policy in as soon as six months, compared with analysts' previous expectation of an rate increase in the second quarter of 2015.David Tinsley, UK Economist at BNP Paribas, said the Governor's comments "marked an important milestone" and that a rate hike in the fourth quarter of 2014 "is increasingly looking very likely".Meanwhile, Chancellor George Osborne moved to quell fears of rampant house-price inflation by giving the BoE powers to cap risky mortgage lending. He also announced a £5m fund to promote the development of brownfield sites in an effort to boost supply.Persimmon was among worst performers across the FTSE 350 today, dropping 6.6% to 1,216p on fears that a early rate hike and measures to rein in mortgage lending could stunt the demand for new homes. Barratt Developments, Taylor Wimpey, Bellway and Bovis Homes followed closely behind.Building products group CRH, rental equipment firm Ashtead and online estate agent portal Foxtons were also firmly in the red, Real estate groups didn't escape the sell-off either, with heavyweights British Land and Land Securities falling sharply, along with Great Portland Estates and Derwent London.Top performing sectors so far todayElectricity 9,882.54 +0.48%Oil & Gas Producers 8,690.52 +0.42%Bottom performing sectors so far todayGeneral Retailers 2,726.47 -3.50%Automobiles & Parts 8,695.27 -3.13%Real Estate Investment Trusts 2,762.19 -2.99%Real Estate Investment & Services 2,675.28 -2.67%Construction & Materials 4,427.06 -2.61%BC
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