June 24, 2008Taylor Wimpy drops 12 percent on mortgage approvals data
by Elaine Frei

In London on Tuesday, the FTSE 100 was 0.57 percent lower to 5,634.7 while the FTSE 250 dropped 1.38 percent to 9,192.3.

House builders Taylor Wimpy (LSE: TW) and Barratt Developments (LSE: BDEV) led

the sector lower with declines of 12 percent and 11 percent respectively after the British bankers organization reported that mortgage approvals were down 20 percent in May from April’s numbers and had dropped 56 percent from the same period last year.

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