If you're looking for the biggest losers from the U.K. election, homebuilders and other home-related stocks are certainly contenders — the FTSE 350 Real Estate Investment Trust is down the most since January. Even if part of this is profit taking, it's an ominous sign for the U.K. economy and consumer confidence given the importance of the housing market.
There have already been cracks emerging in the U.K. property market, especially in London: prices dropping, first-time buyers being cut off, a drop in mortgage approvals — even though there's an overall housing shortage. The ramp up in uncertainty on both domestic policies and Brexit negotiations that the election has unleashed could directly translate into more pressure on the property market in the foreseeable future.
Source: Bloomberg Pro Terminal
Trader - Senan Fuchedzhiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.