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London Market Report | London Market Report |
(about 5 hours later) | |
(Close): Shares in housebuilders jumped as Bank of England measures to cool the housing market were seen as unlikely to have a major impact. | |
Bank governor Mark Carney also said that he expected momentum in the market "to continue for the next year or so". | Bank governor Mark Carney also said that he expected momentum in the market "to continue for the next year or so". |
Shares in Persimmon rose 5% and Barratt Developments was up 4.8% | |
However, the FTSE 100 closed only very slightly higher, up 0.02% at 6,735.12, with sharp falls in two of the largest UK-listed banks weighing on the index. | |
Shares in Barclays dived 6.5%, making it the day's biggest loser, after the New York attorney general filed a fraud lawsuit against the bank. | |
The lawsuit alleges the bank misled some investors by falsely telling them it was protecting them from high-frequency traders. | The lawsuit alleges the bank misled some investors by falsely telling them it was protecting them from high-frequency traders. |
Barclays said it was taking the allegations "very seriously". | Barclays said it was taking the allegations "very seriously". |
Standard Chartered ended the day 4.3% down after the bank said its first-half operating profits would be 20% lower than a year earlier, citing "difficult trading conditions". | |
Shares in the London Stock Exchange (LSE) jumped 6.1% after it announced it had bought US asset management business Frank Russell for £1.6bn. | |
The purchase, the largest in the LSE's history, gives the exchange ownership of the Russell 2000 small-cap US stock index and also makes it the third largest player in the growing market for exchange traded funds (ETFs). | The purchase, the largest in the LSE's history, gives the exchange ownership of the Russell 2000 small-cap US stock index and also makes it the third largest player in the growing market for exchange traded funds (ETFs). |
Currys owner Dixons Retail and mobile phone retailer Carphone Warehouse both reported strong rises in profits ahead of their planned merger. Dixons shares edged up 0.98% while Carphone Warehouse rose 1.31%. | |
On the currency markets, the pound edged up 0.18% against the dollar to $1.7013 and climbed 0.3% against the euro to 1.25 euros. |