FTSE 100 movers: Housebuilders escalate while gold stock loses shine
The FTSE 100 index rose 0.53% to 7,330.94 in the late afternoon.
The building sector gained, with housebuilders Barratt Developments and Taylor Wimpey and construction material suppliers CRH and Kingfisher up, after a review from Halifax showed that the number of first time buyers has risen to an all-time high since before the 2008 financial crisis.
ITV got a boost after Goldman Sachs added the buy-rated stock to its Conviction List, saying it’s one of the most likely M&A candidates in its coverage, as it took a look at the European media sector. It noted the stock has been one of the worst performers in its sector coverage, down 19% versus the STOXX Media and down 31% versus the FTSE 250 in the last 12 months, mainly owing to Brexit-related issues.
The price of the yellow metal fell 0.78%, sending shares in Randgold Resources and Mexican gold miner Fresnillo into the red.
Marks and Spencer’s reversed gains from the previous session when it posted a strong third quarter trading update, including a long-awaited sales increase from its troubled clothing business, as the retailer continues to roll out chief executive Steve Rowe's five-year plan to improve productivity.
Risers
Barratt Developments (BDEV) 515.00p 3.41%
ITV (ITV) 209.50p 3.20%
Kingfisher (KGF) 353.70p 2.76%
St James's Place (STJ) 1,087.00p 2.64%
International Consolidated Airlines Group SA (CDI) (IAG) 490.60p 2.38%
Taylor Wimpey (TW.) 174.60p 2.05%
Whitbread (WTB) 4,117.00p 1.98%
CRH (CRH) 2,882.00p 1.73%
Smiths Group (SMIN) 1,534.00p 1.72%
Merlin Entertainments (MERL) 480.10p 1.69%
Fallers
Fresnillo (FRES) 1,391.00p -2.18%
Randgold Resources Ltd. (RRS) 6,655.00p -2.06%
Marks & Spencer Group (MKS) 339.00p -1.71%
Rolls-Royce Holdings (RR.) 665.50p -1.70%
Paddy Power Betfair (PPB) 8,635.00p -1.20%
BAE Systems (BA.) 611.50p -0.97%
United Utilities Group (UU.) 889.50p -0.73%
Smurfit Kappa Group (SKG) 2,138.00p -0.70%
Compass Group (CPG) 1,456.00p -0.68%
Hammerson (HMSO) 563.50p -0.62%