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Home Improvement stocks take a drubbing on Brexit news

Travis Perkins good image

As soon as the stock market opened this morning, home improvement company stocks took a beating as the implications of Brexit began to sink in. The historic referendum resulted in 52% voting for the UK to leave the EU, whilst 48% voted to stay. The results sparked a dramatic overnight fall in the value of the pound, dropping as low as $1.32 against the US dollar – the lowest since the 1980s.

PwC’s retail and consumer lead Madeleine Thomson said as the UK enters a transition period, the impact of Brexit on retailers “remains to be seen”. “Whilst we may see a short-term impact in consumer confidence, most businesses will have a contingency plan in place and there is no reason why long-term success should be impacted by the referendum outcome,” she said. At one point Travis Perkins had dropped by as much as 30%, before recovering to the position below. Note - This is a list of each of the companies stock movements up to midday today.

Source: Insight DIY Team

Kingfisher (KGF)  

Price (GBX)335.90Var % (+/-)-8.27% (Down -30.30)
Volume8,570,036Last close366.20 on 23-Jun-2016
Trading statusRegular TradingSpecial conditionsNONE

 Grafton Group (GFTU)

Price (GBX)573.00Var % (+/-)-19.52% (Down -139.00)
Volume1,075,284Last close712.00 on 23-Jun-2016
Trading statusRegular TradingSpecial conditionsNONE

Travis Perkins (TPK)

Price (GBX)1,653.00Var % (+/-)-13.77% (Down -264.00)
Volume1,007,817Last close1,917.00 on 23-Jun-2016
Trading statusRegular TradingSpecial conditionsNONE

Topps Tiles (TPT)

Price (GBX)133.50Var % (+/-)-10.40% (Down -15.50)
Volume231,533Last close149.00 on 23-Jun-2016
Trading statusRegular TradingSpecial conditionsXD

Wolseley (WOS)

Price (GBX)3,672.00Var % (+/-)-4.55% (Down -175.00)
Volume609,562Last close3,847.00 on 23-Jun-2016
Trading statusRegular TradingSpecial conditionsNONE
25 June 2016

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