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Cladding and Insulation Makers Fall After U.K. Minister Threatens Trading Ban

Firms that supplied materials linked to London’s Grenfell Tower fire may face financial penalties, top government official says.

Unburned lower floors with untouched cladding in tact and the burnt out upper floors of London’s Grenfell Tower, June 18, 2017. 

Unburned lower floors with untouched cladding in tact and the burnt out upper floors of London’s Grenfell Tower, June 18, 2017. 

Photographer: TOLGA AKMEN/AFP

Kingspan Group Plc fell to the lowest level in six months after the U.K. government threatened a trading ban on manufacturers of cladding and insulation if they refuse to pay to fix homes at risk of fire.

Compagnie De Saint Gobain, which owns building and construction company Celotex Group, saw its share prices drop to the lowest level in a month. Arconic Corp. also saw shares drop to one-month low, before recovering. The stocks fell along with the broader market, with the FTSE 100 suffering its largest-one day drop since Nov. 26.