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The market: house builders down on day

Last week's interest rate cut has done little to boost confidence in a revival in the housing market as shares as three companies finished down on trading on the stock market.
A series of second tier housebuilders fell into the red, including McCarthy & Stone, down 14.5p to 515p, Bovis Homes, weakening 14.5p to 610.5p, and Wilson Bowden, off 12p to 1088p.

Estate agents chain also Countrywide edged downwards after posting sharply lower profits for the first half of its financial year.

Shares slipped half a penny to 337.5p after it saw house sales fall by nearly a third - although its chairman said he hoped the worst was over for the property market.

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