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Wolseley leads London market lower

FTSE falls for the second day in a row, led lower by Wolseley.
Falling for the second day in a row, following large losses in the previous session, Wolseley – distributor of plumbing and heating products, and a leading supplier of building materials – leads the London market even lower.

Despite winning the Data Centre Cooling Impact category at the RAC Cooling Awards, Wolseley was down 12% after warning about a slowing revenue growth as pre-tax profits for the full-year to the end of July fell 25% to £508 million.

After its UK profits fell on a weak performance from its home improvement business, Wolseley – among other London stocks – was the biggest faller in the top flight.

The other biggest fallers in the FTSE 100 Index, aside from Wolseley – down 523p at 3656p – included Hikma Pharmaceuticals, Persimmon, and Taylor Wimpey.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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