Savills drops, traders cite share placement

LONDON, March 26 (Reuters) - Shares in British propertyconsultancy Savills drop 7.4 percent, with tradersciting a placement of 7.8 million shares by Credit Suisse as themain factor weighing on the stock.

One trader adds that the shares were placed at 535 pence,against the current price of around 534 pence.

Wall Street Journal reported that the placement was carriedout on behalf of Oaktree Capital Group.

Volumes in Savills are at 266 percent of their 90-day dailyaverage, 33 percent for the mid-cap FTSE 250 index.

According to Thomson Reuters data, the placement accountsfor around 5.9 percent of Savills' outstanding shares.

(Reporting By Toni Vorobyova and David Brett)

Savills