FTSE 250 movers: Housebuilding, construction shares hit on Nationwide Dec survey

FTSE 250: 18,853.00, -0.76% at close.

There was no major corporate news to report on the final trading day of the year. Stocks were held back by worries of rising Covid cases in China and the expected influx of travellers from that country after Beijing lifted travel restrictions.

“The FTSE 100 is on track to sharply outperform the FTSE 250 in 2022. The smaller index is broadly flat year-to-date whereas the larger is down by 20%. The FTSE 250 is more closely correlated to the UK economy and has been weighed down by this year’s domestic economic and political uncertainty," said Interactive Investor head of investment Victoria Scholar.

"The FTSE 100 however is more of an outward looking global index that does not reflect the fundamentals of the UK economy. Not only has it outperformed the FTSE 250, but it has also outshined its European equivalents such as the DAX in Germany and the CAC in France thanks to its favourable sectoral mix."

UK shares closed out a brutal 2022 in the red as fears over the spread of Covid cases in China combined with a lifting of border restrictions by Beijing continued to spook investors.

On a half-day of thin trade the FTSE 100 lost 0.52% to close at 7,473.

The year has seen Russia's unprovoked invasion of Ukraine, which in turn helped to fuel post-Covid pandemic inflation, which pushed global interest rates higher, which created a cost-of-living crisis that has seen consumers struggle to pay bills, which added up to a battering for equities. The Footsie is set to post a gain for the the year of around 1.7%.

US stocks thumbed their collective nose at 2022 with a rally on Thursday as investors went bargain hunting. Crude oil prices fell as a surge of Covid cases in China exacerbated fears of global economic downturn.

There was no major corporate news to report. The UK government was still prevaricating over whether to demand negative Covid test results from an expected influx of travellers from China. The US, Italy and Japan have already imposed the requirement.

“The FTSE 100 is on track to sharply outperform the FTSE 250 in 2022. The smaller index is broadly flat year-to-date whereas the larger is down by 20%. The FTSE 250 is more closely correlated to the UK economy and has been weighed down by this year’s domestic economic and political uncertainty," said Interactive Investor head of investment Victoria Scholar.

"The FTSE 100 however is more of an outward looking global index that does not reflect the fundamentals of the UK economy. Not only has it outperformed the FTSE 250, but it has also outshined its European equivalents such as the DAX in Germany and the CAC in France thanks to its favourable sectoral mix."

In economic news, UK house price growth decelerated at pace in December, according to lender Nationwide, with prices delivering their worst performance since the banking industry cause the financial crash of 2009.

In annual terms, house price growth dropped to 2.8% in December, down from 4.4% in November but ahead of the 2.3% growth rate predicted by economists.

Nationwide said on Friday that prices had dipped 0.1% month-on-month in December for a fourth consecutive fall and the worst run since 2008. Economists had pencilled-in a fall to 0.7%.

The findings hit housebuilding and sector-related shares, with Redrow, Howden Joinery and landscaping supplies specialist Marshalls all lower.

FTSE 250 - Risers

Oxford Instruments (OXIG) 2,260.00p 2.03%
BH Macro Ltd. GBP Shares (BHMG) 4,415.00p 1.93%
PureTech Health (PRTC) 266.50p 1.91%
Helios Towers (HTWS) 106.10p 1.82%
W.A.G Payment Solutions (WPS) 80.20p 1.79%
IWG (IWG) 166.00p 1.75%
Liontrust Asset Management (LIO) 1,120.00p 1.63%
Petershill Partners (PHLL) 169.00p 1.56%
Johnson Matthey (JMAT) 2,127.00p 1.14%
Just Group (JUST) 81.60p 1.05%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 154.05p -6.86%
Wizz Air Holdings (WIZZ) 1,904.50p -3.20%
Redrow (RDW) 457.20p -2.95%
PZ Cussons (PZC) 209.50p -2.78%
Tullow Oil (TLW) 36.92p -2.64%
Wood Group (John) (WG.) 135.15p -2.59%
Future (FUTR) 1,267.00p -2.54%
Coats Group (COA) 66.20p -2.50%
Babcock International Group (BAB) 282.20p -2.49%
Mitie Group (MTO) 74.60p -2.48%