Homebuilder Cairn Homes and Glenveagh Properties shares fall as broker cuts targets

Shares in housebuilders Cairn Homes and Glenveagh Properties fell as Davy cut its price targets for the firms, citing a “significant” slowdown in asking prices outside of Dublin.

Cairn shares fell 1.5% to €1.12, to bring its losses in the past year to almost 22%, while Glenveagh shed 3.3% to 73c, to bring its losses to 25% over the same period.