Monday, July 9, 2007

Bovis Says Higher U.K. Interest Rates Scaring Buyers; Housing Stocks Slump

(Bloomberg) -- Bovis Homes Group Plc shares fell
the most ever and other U.K. homebuilders tumbled after the
company said higher interest rates have scared away buyers.

Bovis stock dropped as much as 8.6 percent and newly
formed Taylor Wimpey Plc, Britain's biggest homebuilder,
declined 4.7 percent. Persimmon Plc and Barratt Developments
Plc, ranked second and third in the U.K., also fell.


Read more at Bloomberg Exclusive News

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