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FTSE tumble hits DIY specialists

Published:  18 December, 2009

LONDON: Shares on the stock exchange tumbled yesterday with the FTSE100 down 102.65 points at 5,216.31. The FTSE250 was off 83.95 points at 9,057.4 and the FTSE Smallcaps 2.58 points lower at 2,713.87.

DIY specialists were also hit after Wickes owner Travis Perkins reported only a modest rise in its retail operations, with Homebase operator Home Retail Group off 12.3p at 283.7p and B&Q owner Kingfisher down 6.6p at 226.5p.

Travis Perkins, meanwhile, fell 19.5p at 795p, despite being upgraded to outperform from hold at Seymour Pierce, with the target price raised to 845p.

Retail sales data for November came in well below expectations, showing a surprise drop, and the CBI predicted flat sales in the New Year in its Distributive Trades Survey.