FTSE dips on negative mortgage market data

The FTSE 100 moved slightly lower in afternoon trading as double-dip fears persisted on the back of negative housing market data.

The index fell 24.73 points or 0.53% to 5,176, as it was reported mortgage lending had fallen to its fourth lowest level on record and commentators warned of another housing market crash. InterContinental Hotels led the laggards on the FTSE, down 3.46% to 977p. Other fallers were business services firm Serco Group, down 3.02%; generator supplier Aggreko; and Aviva, down 2.04%. Eurasian Natural Resources was among several miners that slid downwards today, losing 2.22% to reach 837.5p per share. Among the winners today were technology group ARM Holdings, leading the strongest stocks ...