Sales drop by a third at Foxtons

It’s the danger of being such a London-centric operation at a time like this… sales are down a third at Foxtons in just three months. The agency has issued a profit warning, blaming the EU referendum result and punitive tax measures hitting investors and buy-to-let landlords. Shares in Foxtons were priced at a whisker under £1 this morning. They were at £1.65 in June. The agency remains confident, however, of hitting longer-term targets. More here.