Equity markets look to have stabilised after a patchy showing earlier this week, however it does feel as though investors remain slightly nervous.
The FTSE 100’s biggest fallers in index point terms were a mixture of defensive and cyclical stocks, so investors are clearly not falling on one side of the fence. Pharmaceuticals, consumer goods and miners were among the stocks in negative territory.
“Housebuilders enjoyed a boost from Barratt Development’s latest update, putting that stock at the top of the FTSE 100 risers and lifting Persimmon, Taylor Wimpey and Berkeley Group in the process,” said AJ Bell’s Russ Mould.
“Forward sales have been good at Barratt and the company remains upbeat. There had been some nervousness towards the housebuilding sector that it would be negatively impacted by ongoing inflation in raw material prices and more recently from elevated energy prices.”