FTSE Close: Blue-chip index dips on housebuilder probe, Wincanton jumps on Bid

The FTSE 100 index closed slightly lower on Monday, down 0.3% to 7,684.30. Housebuilders faced pressure after the Competition and Markets Authority (CMA) launched an investigation into suspected information-sharing practices, leading to declines in their share prices. Notably, Taylor Wimpey fell 3.1% while Persimmon dipped 2.3%.

Meanwhile, the FTSE 250 and AIM All-Share also closed lower, ending the day at 19,126.92 (-0.3%) and 745.81 (-0.3%) respectively.

Distribution and services company Bunzl contributed to the FTSE 100’s decline, dropping 3.4% after issuing a cautious outlook for 2024. The company anticipates slight declines in underlying revenue and operating margin compared to 2023.

Ocado’s share price also fell by 7.0% on reports suggesting the company will miss out on a significant performance-related payment from partner Marks & Spencer Group.

Daily Recap

Logistics provider Wincanton soared on the back of a revised, higher bid from CEVA Logistics UK Rose. The logistics company’s shares jumped 11% following the announcement. Additionally, Wincanton disclosed receiving an approach from another unnamed bidder, potentially setting the stage for a bidding war.

Hornby jumped another 24% following Friday’s 33% surge. This follows the news of Sports Direct-owner Frasers Group increasing its stake in the model railway maker.

Daily Risers and Fallers

FTSE All-Share risers: Wincanton 12.25%, Schroders Cap 4.76%, ME Group 4.58%, Galliford Try 4.41%, Diversified Energy 4.3%, Capita 3.4%, Bloomsbury 3.3%, Tullow Oil 3.27%, Firstgroup 3.18%, Octopus Energy 2.7%.

FTSE All-Share fallers: Funding Circle -7.1%, Ocado -6.98%, Vanquis Banking -5.3%, Wag Payment -5.06%, Stvg -4.65%, 888 Holdings -4.61%, Ceres Power -4.29%, Foresightgr -4.28%, Inter. Pers. -4.22%, Metro Bank -3.96%.