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FTSE 100 bolstered by Persimmon update | |
(about 4 hours later) | |
Housebuilder Persimmon boosted the London market after the company reported strong sales growth. | |
The company said private sales in the second half of the year were up 15% from a year earlier. | The company said private sales in the second half of the year were up 15% from a year earlier. |
For the year as a whole, it completed the sale of 15,171 homes, a rise of 4%, while revenues climbed 8% to £3.14bn. | For the year as a whole, it completed the sale of 15,171 homes, a rise of 4%, while revenues climbed 8% to £3.14bn. |
Shares in Persimmon rose 5.5%, and its statement helped to lift shares across the sector. Barratt Developments added 2.4% while Taylor Wimpey rose 4%. | |
The FTSE 100, which closed at yet another record high on Wednesday, set a fresh intra-day high of 7,211.96 in early trade before slipping back. However, by midday it was still up 2.76 points at 7,192.50. | |
Rolls-Royce was the worst performing share in the FTSE 100. It fell 4% to 640.50p after JP Morgan reduced its price target for the stock. | |
Shares in Next dipped 0.2%. On Wednesday, the retailer's shares had sunk 14% after it reported falling sales in the run-up to Christmas and issued a downbeat forecast for 2017. | |
On the currency markets, the pound fell 0.1% against the dollar to $1.2311 and dropped 0.2% against the euro to €1.1725. |