Housebuilders appear to be looking forward to spring in much the same manner as turkeys view Christmas. Mark Clare, chief executive of Barratt, reported sales had slumped 14% over the autumn and expressed concerns about consumer confidence and mortgage finance availability. It wasn't all bad news but the City, as is its way, took fright. Barratt's shares tumbled more than 2.6% and dragged everyone else with them. Redraw and Bellway sunk more than 2%. Taylor Wimpey shed 1.7% in sympathy and Persimmon lost a similar amount.
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