U.K. Homebuilders Drop as Central Bank Ends Loan Incentives
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U.K. homebuilders led by Persimmon Plc and Taylor Wimpey Plc fell after the Bank of England said it will end incentives for mortgage lending under its credit-boosting program.
The Bloomberg EMEA Home Builders Index of 10 stocks closed down 4.4 percent, the most since Aug. 15. Persimmon, the largest U.K. homebuilder by market value, fell 6.1 percent to 1,170 pence. Taylor Wimpey dropped 6.2 percent.