FTSE 250 movers: Housebuilders feel the heat over UK tax cuts, inflation fears
By Frank Prenesti
Date: Monday 26 Sep 2022
(Sharecast News) - The FTSE 250 was down 1.55% to 17,693.91 at 1428 BST.
London stocks had slumped into the red by midday on Monday, while sterling fell to an all-time low against the dollar amid concerns the swathe of tax cuts announced by chancellor Kwasi Kwarteng last week will do little to boost growth and will instead add to inflation.
Housebuilders, landlords and building suppliers were the worst performers amid concerns the Bank of England will have to ramp up interest rates, increasing borrowing costs further. Bellway, Redrow, Derwent London, Howden Joinery and Vistry all fell sharply.
FTSE 250 - Risers
Darktrace (DARK) 319.10p 5.24%
Playtech (PTEC) 408.00p 4.40%
Weir Group (WEIR) 1,496.00p 3.60%
Hochschild Mining (HOC) 56.50p 3.10%
Aston Martin Lagonda Global Holdings (AML) 147.95p 2.96%
JTC (JTC) 720.00p 2.86%
Softcat (SCT) 1,183.00p 1.98%
Johnson Matthey (JMAT) 1,849.50p 1.79%
ASOS (ASC) 609.50p 1.41%
Watches of Switzerland Group (WOSG) 790.00p 1.41%
FTSE 250 - Fallers
Mitie Group (MTO) 62.70p -9.39%
Virgin Money UK (VMUK) 130.50p -7.74%
Bellway (BWY) 1,780.00p -7.19%
Urban Logistics Reit (SHED) 134.50p -6.60%
Vistry Group (VTY) 664.00p -6.35%
Syncona Limited NPV (SYNC) 159.00p -6.03%
Biffa (BIFF) 321.80p -5.91%
Redrow (RDW) 439.00p -5.83%
Howden Joinery Group (HWDN) 524.40p -5.75%
Derwent London (DLN) 2,014.00p -5.62%
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