FTSE ends week slightly lower March 30th, 2008
The FTSE 100 closed the week at 5,962.90, down slightly on the day by 24.6 points. Persimmon, the only housebuilder in the FTSE 100 was the biggest casualty, closing 40 points lower at 749.5p. Taylow Wimpey, Redrow and Bellway, Persimmons competitors in the FTSE 250 also ended the week lower, following Thurday’s upturn on the news that Tosca had increased its stakes in Redrow and Taylot Wimpey. Barratt Developments was the worst hit as they fell by 27.25p to 410.75p on the news that Panmure Gordon downgraded the stock to a ’sell’.The weeks most positive news came courtesy of Enterprise Inns, which ended up 45.75p (12.5%) at 409.75p on the prospect that it becomes a Real Estate Investment Trust (REIT) which are subject to more favourable tax rules.As usual, the FTSE 250 performance was similar to that of the blue chip index, again due to the performance of the housebuilders. The index closed down 20.7 points at 9,961.3.
