Shock Retail Good News Fails to Nullify Housing Woe ; Market Report Share Prices

Birmingham Post › June 20, 2008

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Summary

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

Britain's biggest mortgage lender Halifax Bank of Scotland revealed pounds 1 billion in writedowns and predicted a nine per cent fall in house prices, causing misery for rival lenders and housebuilders.

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Shock Retail Good News Fails to Nullify Housing Woe ; Market Report Share Prices

Gains for miners on higher metal prices helped limit the damage to the FTSE 100 Index, but it ended 48.5 poi...

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