Brexit-sensitive stocks rocked as political turmoil deepens
22/05/2019 at 15:15
LONDON, May 22 (Reuters) - Shares in Britain's housebuilders,
retailers, and airlines tumbled on Wednesday after multiple media
reported rumours that Prime Minister Theresa May's ministers could
oust her in a row over her latest deal to exit the European Union.
Taylor Wimpey , Berkeley Group , Barratt Development , and
Persimmon fell sharply, down 3.7 to 5.4% by 1406 GMT.
Housebuilders have been particularly sensitive to any signs of
rising likelihood of a hard Brexit, which many investors fear would
damage the world's No. 5 economy.
Retailers, which are also highly exposed to the British economy,
fell too. Sainsbury's lost 3.7% while Marks & Spencer
Brexit-sensitive airlines easyJet and British Airways owner IAG
were down 5.8% and 4% respectively, while state-backed Royal Bank of
Scotland dropped 3.6%.
(Reporting by Helen Reid; editing by Josephine Mason)
((Helen.Reid@thomsonreuters.com; +44 20 7542 0402;))