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FTSE 100 bolstered by Persimmon update FTSE 100 bolstered by Persimmon update
(about 4 hours later)
Housebuilder Persimmon boosted the London market after the company reported strong sales growth.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%. Shares in Persimmon rose 7%, and its statement helped to lift shares across the sector. Barratt Developments added 2.8% while Taylor Wimpey rose 5%.
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. The FTSE 100 closed at yet another high - its sixth consecutive record - rising by 5.57 points to end at 7,195.31.
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. Rolls-Royce was the worst performing share in the FTSE 100. It fell 4.1% to 639.5p 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 was little changed against the dollar at $1.2422 and dropped 0.26% against the euro to €1.1717.
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.