Shares in British housebuilders subsided on Friday after a surprise fall in official UK construction output.
Most of the big players were in the red after output unexpectedly dipped 0.2% month-on-month in September, worse than the consensus of +1.5%.
But August’s dismal performance was revised up to -3.4%, from -4.4%.
Investors in the big builders took flight. In the FTSE 100 Index, Persimmon (LON:PSN) fell 12p to 945.5p and Barratt Developments (LON:BDEV) slid 5p to 561p.
In the second tier, Redrow (LON:RDW) backtracked 1.7p to 438.9p and Bovis Homes (LON:BVS) crumbled 11p to 946.5p.
But analysts stayed upbeat on the industry, saying fundamentals such as the UK's structural housing shortage should prop it up.
Howard Archer at IHS Global Insight said: "Despite the further dip in construction output in September. the prospects for the sector seem largely positive."
Samuel Tombs at Pantheon Macroeconomics added: "The sharp fall in construction output over recent months is likely a blip, but it’s hard to envisage a strong revival ahead."
Commodities crashed after more negative Chinese economic data. Copper traded at six-year lows, crude was near six-and-a-half-year lows and iron ore dipped below US$48 a tonne.
Prices fell as China released weak credit data, sparking a 52-point fall in the Shanghai Composite Index and a 101-point loss on Japan's Nikkei 225.
AJ Bell investment director Russ Mould said: "There is increasing evidence that global growth is slowing and investor confidence has been hit as a result."
The Footsie fell 59.44 points to 6119 in lunchtime trading while the Dax dropped 92 points and the CAC-40 was 58 points adrift.
French and German third quarter GDP figures both came in at 0.3%. For France that was a big improvement on the 0.0% in the second quarter. But for Germany, it was a drop from 0.4% in Q2.
Back on the markets, Rolls-Royce (LON:RR.) took another pounding after warning on 2015 profits and giving a gloomy 2016 forecast. Shares reversed 12p to 524.5p.
After rising yesterday on an upbeat trading statement - despite news of job cuts and reduced Eurofighter production - BAE Systems (LON:BA.) flew 3.6p lower to 451.4p.
Horizon Discovery (LON:HZD) ticked up 8p to 149p after influential biotech and technology investor Neil Woodford gave further backing to the life sciences group.
Alaska-focused 88 Energy (LON:88E) reported the re-start of drilling at its Icewine project after technical delays, boosting its shares by 2.4% to 0.65p.
US-focused explorer and producer Caza Oil & Gas (LON:CAZA) (TSX:CAZ) headed 0.1p lower to 0.3p on news of a fall in revenue due to lower commodity prices and a subsequent decision to reduce spending.
Shares in zinc-lead explorer Minco (LON:MIO) hardened 0.05p, or 6.9%, to 0.78p as it bagged three new prospecting licences at Moate in Ireland.
LONDON OPEN
Commodities crashed after more negative Chinese economic data, dragging markets down on Friday.
Copper traded at six-year lows, crude was near six-and-a-half-year lows and iron ore dipped below US$48 a tonne.
Prices fell as China released weak credit data, sparking a 52-point fall in the Shanghai Composite Index and a 101-point loss on Japan's Nikkei 225.
AJ Bell investment director Russ Mould said: "There is increasing evidence that global growth is slowing and investor confidence has been hit as a result."
The FTSE 100 Index fell 24.62 points to 6154 in early trading while the Dax dropped 14 points and the CAC-40 was eight points adrift.
French and German third quarter GDP figures both came in at 0.3%. For France that was a big improvement on the 0.0% in the second quarter. But for Germany, it was a drop from 0.4% in Q2.
Back on the markets, Rolls-Royce (LON:RR.) took another pounding after warning on 2015 profits and giving a gloomy 2016 forecast. Shares reversed 16.5p to 520p.
After rising yesterday on an upbeat trading statement - despite news of job cuts and reduced Eurofighter production - BAE Systems (LON:BA.) flew 2.6p lower to 452.4p.
Horizon Discovery (LON:HZD) ticked up 2.5p to 143.5p after influential biotech and technology investor Neil Woodford gave further backing to the life sciences group.
Alaska-focused 88 Energy (LON:88E) reported the re-start of drilling at its Icewine project after technical delays, but its shares backtracked 1.58% to 0.62p.
US-focused explorer and producer Caza Oil & Gas (LON:CAZA) (TSX:CAZ) headed 0.08p lower to 0.32p on news of a fall in revenue due to lower commodity prices and a subsequent decision to reduce spending.
MARKET PREVIEW
If not exactly a horror show, Friday the 13th is shaping up to be a fairly miserable day for the FTSE 100.
The spread betting firms are predicting the blue-chip index will fall around 30 points on open to 6,148.68.
The equity markets of Asia and the US were hit by lower commodity prices and spooked by the imminent possibility of a rise in American interest rates.
West Texas crude was down around 0.6% at US$41.51, while China’s weak credit growth hit copper and iron ore prices.
“The last time commodities had such a bad run was in the lead up to the September Federal Reserve meeting when the majority of economists thought the bank would hike interest rates,” said Jasper Lawler, analyst at CMC Markets.
On Wall Street, the Dow closed down 1.4%, as did the broader-based S&P 500. The tech heavy NASDAQ was unchanged.
In Asia, Japan’s Nikkei 225 was off 0.5%, while the Shanghai Composite fell 1.1%.
Back in the UK, it is expected to be a quiet day for corporate news, with second-tier firms Rotork and car seller Auto Trader Group slated to report figures.