FTSE 100 movers: Property fund suspensions bash Standard Life, Aviva

Standard Life was under the cosh after announcing it had suspended dealing in its UK Real Estate fund following a rapid increase in redemption requests. The announcement raised fears about the health of the commercial property market, sending stocks in the sector lower. Aviva shares were lower after it did the same

Legal & General slumped after Jefferies downgraded the stock to ‘hold’ from ‘buy’ and lowered the target price to 269p from 197p.

Housebuilder Persimmon declined even as it said it was still too soon to judge the effect of Brexit on the new homes market, adding that trading through the first half had been “strong”. Fellow housebuilders Berkeley Group, Taylor Wimpey and Barratt Developments were also in the red amid worries about Brexit.

Shares in Shell were up after the company said it was applying to leave the giant legs of its three Brent field platforms in the North Sea when it completes decommissioning work.

Market Movers

FTSE 100 (UKX) 6,527.17 0.08%

FTSE 100 - Risers

Royal Dutch Shell 'A' (RDSA) 2,092.00p 2.00%
Royal Dutch Shell 'B' (RDSB) 2,106.00p 1.96%
British American Tobacco (BATS) 4,995.00p 1.85%
GlaxoSmithKline (GSK) 1,630.50p 1.84%
National Grid (NG.) 1,124.00p 1.77%
Reckitt Benckiser Group (RB.) 7,621.00p 1.48%
Sage Group (SGE) 636.50p 1.35%
Shire Plc (SHP) 4,777.00p 1.27%
Randgold Resources Ltd. (RRS) 9,275.00p 1.26%
Unilever (ULVR) 3,639.50p 1.20%

FTSE 100 - Fallers

Berkeley Group Holdings (The) (BKG) 2,327.00p -6.36%
Legal & General Group (LGEN) 175.60p -6.10%
Barratt Developments (BDEV) 366.90p -5.51%
Persimmon (PSN) 1,358.00p -5.37%
Taylor Wimpey (TW.) 124.10p -4.90%
Hargreaves Lansdown (HL.) 1,135.00p -4.78%
Schroders (SDR) 2,239.00p -4.68%
Prudential (PRU) 1,204.00p -4.44%
Whitbread (WTB) 3,356.00p -4.20%
Dixons Carphone (DC.) 297.10p -4.16%