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| UK Market Update Archive: |
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Record Low Confidence, Home Prices Fall
Jul 31, 9:56 PM ET |
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| Weak consumer confidence and falling home prices drove stocks lower in London trading. |
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| Stocks in UK fell as consumer confidence dipped to a new low and home prices fell in July. The steady drop in home prices and tight monetary conditions have soured consumer moods and expectations of further economic weakness are pervasive. Of the stocks in FTSE 100 index, HBOS led advancers with a rise of 7% and BT Group led decliners with a loss of 7%. Retailers, Next, Kingfisher and Sainsbury fell on the weak consumer related sectors. |
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