CNBC Stock Blog

London Movers: Taylor Wimpey, Man

Shares of UK house-builder Taylor Wimpey saw solid gains, while FTSE-listed alternative investment manager Man Group sank, amidst positive trading for the London index.

Taylor Wimpey share rose 3 percent after Bank of America-Merrill Lynch upgraded the stock to "buy" from "neutral," Reuters reported. Rival Persimmon was also upgraded by the bank, which raised its ratings view on the sector.

Bank of America-Merrill Lynch said that the shares are undervalued and already take into account a dire outlook for UK property.

Meanwhile, Man Group shares fell 5.5 percent after the company paid its half-yearly divided of 15.47 pence, giving investors a chance to cash out of the stock.

The release of the dividend, announced back at the end of May, was the primary reason behind the stock’s move, Harry Brown, trader at JN Financial, told