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04 Sep, 2020 20:36 04 Sep, 2020 20:36

Sector movers: Technology names and homebuilders pace losses

ep el presidente de brasil jair bolsonaro durante un reciente viaje oficial a india
IndiaPawan Sharma/PTI/dpa - Archivo

Technology issues paced losses in London trading at the end of the week as investors were caught in the downdraft from sharp selling in the space across the Pond.

Home construction stocks were also lower, amid reports that lenders were tightening lending standards.

Further dampening sentiment towards the likes of Barratt, Countryside, Persimmon and Taylor Wimpey, the Competition and Markets Authority announced that it had opened cases against the four companies.

The regulator said the companies may have imposed unfair terms on leaseholders and misled buyers.

Acting as a drag on the mobile telecommunications space, Vodafone's Indian unit laid out plans to raise as much as 250bn rupees (£2.56bn) in fresh capital.

The sale of approximately 150bn rupees was approved by Vodafone Idea on Friday.

Shares in Vodafone Idea had jumped over the preceding two session after the country's highest court gave the firm 10 years to pay back billions owed to New Delhi.

According to Bloomberg, which cited people familiar with the matter, the carrier was no longer seeking a bankruptcy filing.

Top performing sectors so far today

Industrial Metals & Mining 3,306.53 +2.84%

Mining 18,069.62 +1.85%

Industrial Engineering 12,462.87 +1.39%

Banks 1,976.66 +0.91%

Construction & Materials 6,033.79 +0.54%

Bottom performing sectors so far today

Technology Hardware & Equipment 2,188.70 -2.97%

Household Goods & Home Construction 16,700.79 -2.94%

Mobile Telecommunications 2,406.65 -2.32%

Electricity 7,065.22 -2.31%

Gas, Water & Multiutilities 4,648.08 -2.24%

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.