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Brexit-sensitive stocks rocked as political turmoil deepens

Published 05/22/2019, 10:15 PM
Updated 05/22/2019, 10:20 PM
Brexit-sensitive stocks rocked as political turmoil deepens
EZJ
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MKS
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LONDON, May 22 (Reuters) - Shares in Britain's
housebuilders, retailers, and airlines tumbled on Wednesday
after multiple media reported rumours that Prime Minister
Theresa May's ministers could oust her in a row over her latest
deal to exit the European Union.
Taylor Wimpey TW.L , Berkeley Group BKGH.L , Barratt
Development BDEV.L , and Persimmon PSN.L fell sharply, down
3.7 to 5.4% by 1406 GMT.
Housebuilders have been particularly sensitive to any signs
of rising likelihood of a hard Brexit, which many investors fear
would damage the world's No. 5 economy.
Retailers, which are also highly exposed to the British
economy, fell too. Sainsbury's SBRY.L lost 3.7% while Marks &
Spencer MKS.L dropped 8%.
Brexit-sensitive airlines easyJet EZJ.L and British
Airways owner IAG ICAG.L were down 5.8% and 4% respectively,
while state-backed Royal Bank of Scotland RBS.L dropped 3.6%.

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