The UK’s vote to leave the European Union has knocked share prices for big names in the DIY and tool markets on the London Stock Exchange.
B&Q and Screwfix owner Kingfisher has seen its share price drop from 365p on Thursday afternoon to 311p on Friday morning. The price recovered slightly by the close of play on Friday 341p but has fallen again to 326p* as of this morning.
Wickes and Toolstation owner Travis Perkins saw a similar dip from 1907p on Thursday afternoon to 1200p first thing on Friday. The price recovered significantly to 1691p later in the day but this morning have again fallen to 1428p*, mirroring the pattern seen for Kingfisher’s shares. Travis Perkins also owns Scruffs, Tradeline, Holdon and Boss, among others.
Naturally those prices will change in due course as the markets grapple with the new economic situation the UK finds itself in. Last week a number of trade associations called for stability, including the Confederation of British Industry, the Federation for Small Businesses and the British Retail Consortium.
*Price correct at time of press.