Housebuilders have been under almost as much pressure as the banks in recent weeks. True, none of them have yet asked shareholders for money, despite much talk - which has so far come to nothing - that Barratt Developments might do so.
But with house prices falling, mortgages becoming ever more expensive despite the Bank of England's rate cuts, the sector remains out of favour.
Today Goldman Sachs has added to the downbeat mood. It has downgraded Bellway and Taylor Wimpey from neutral to sell, pushing their shares 16p lower to 690.5p and down 5.75p to 122p respectively. Even though the bank made more positive noises about Barratt and Persimmon, they too have fallen, both down around 1.5%.
Meanwhile the banks are still under pressure, with Bradford & Bingley down 13% at 115.75p and Royal Bank of Scotland10.25p lower at 256.25p. That is not too far above the theoretical ex-rights price for RBS of 234.5p. The nil-paid rights are also weaker, down 13p at 55p. There are several theories for the RBS falls, including a suggestion that US holders who cannot take up the rights are selling US ADRs, with a knock on effect on the UK shares.
As for B&B, its theoretical rights issue price is around 101p, so its shares are dropping ever closer to that level.
Still, with the miners holding their gains and Wall Street opening higher, the FTSE 100 is now 52.1 points ahead at 6356.4.
