Housing slump hits FTSE

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

Housing slump hits FTSE
Thu, 19 Jun, 2008 - 18:58

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

Britain’s biggest mortgage lender Halifax Bank of Scotland revealed £1bn (€1.3bn) in writedowns and predicted a 9% fall in house prices, causing misery for rival lenders and housebuilders.

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