Market report: Brexit woe hits home at Countrywide

A second consecutive annual loss of more than £200m for Countrywide sent the UK’s biggest estate agent sliding to the bottom of London’s market as Brexit angst threatens to derail its turnaround. The company is implementing a “back to basics” plan to kick-start its recovery but Countrywide revealed that the turnaround has been hampered by a slump in property transactions as Brexit uncertainty bites. The company’s shares have been under pressure since last summer when it tapped investors for a £140m lifeline, aiming to slash its debt pile.