Wine, ships and houses

The FTSE 100 opened in negative territory taking its cue from a lower close in the US and a mixed start in Asia, as volatile oil prices and global economic concerns continued to pull markets back and forth.

“Winemaker Chapel Down’s sales are fizzing but there is a Brexit cloud on the horizon,” says AJ Bell Investment Director Russ Mould.

“Uncertainty surrounding the EU referendum has had no real impact on its business so far but the group would be affected if it was unable to access EU workers for its viticulture and the expertise in winemaking available in Europe.

“Shipping group Goldenport’s shares plummeted as it was forced to sell eight ships after attempts to restructure loans failed. Goldenport has been struggling to keep its head above water for some time and with daily hire rates falling below a vessel’s operating expenses there was little room for manoeuvre with its lenders.

“Housebuilders Persimmon, Barratt and Berkeley were among the top blue-chip risers despite warnings that the sector is facing some serious headwinds.”

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