Housing stocks tumble on Vistry39;s FY forecast cut
Moody39;s lifts UK39;s outlook to 39;stable39;
Keller Group jumps on upbeat forecast
Indivior rises on lawsuit settlement
FTSE 100, FTSE 250 down 0.5

Oct 23 Reuters Britain39;s FTSE 100 hit a twomonth low on Monday, hurt by a selloff in mining stocks as prices of most metals fell, while Vistry Group dragged FTSE 250 lower on annual profit forecast cut.

The commodityfocused FTSE 100 and the midcap FTSE 250 fell 0.5 each, with the latter hitting its lowest level in a year. Both indexes are set for their fourth straight session of declines.

Precious metal miners lost 1.3 as rising U.S. dollar and Treasury yields weighed on gold prices.

Industrial metal miners eased 1.4 as copper prices dipped on growing concerns about the Middle East conflict and rising inventories.

People are considering a slowdown in economic output and the potential for recession does weigh on commodities, said Danni Hewson, head of financial analysis at AJ Bell.

Homebuilder Vistry tempered its annual profit forecast and said it would cut about 200 jobs as part of a restructuring, taking the shares down 5.3 to the bottom of FTSE 250.

The broader homebuilder index shed 1.6, while the real estate stocks lost 1.8, leading the declines among sectors.

It is the undermining consumer confidence that people are putting off moving and buying a home especially if they39;re a firsttime buyer, added Hewson

Keller Group soared 13.2, leading gains on…

Leave A Comment