Sector movers: Housebuilders rise after upbeat data

Housebuilders were among the top risers in the UK on Tuesday after a report showed house prices reached a record high in November.

UK house prices in November rose 13.4% annually and 3.7% on the month to reach an average of £231,857, according to Haart.

Haart chief executive Paul Smith said the UK experienced the steepest monthly and annual increase on record following a surge in registrations from buy-to-let investors since the Autumn Statement announced higher stamp duty would be introduced on 1 April.

The sector was also boosted by expectations that housebuilders will benefit from any rebuilding or repair work that needs to be carried out as a result of the recent flooding in the UK.

Persimmon and Taylor Wimpey were both posting gains on the FTSE 100.

In contrast, industrial metals and mining stocks were on the back foot as a report showed a 0.1% contraction in UK manufacturing activity this year. EEF said the manufacturing industry was dragged down by lower productivity in oil and gas, weakness in the steel industry and a tough exports market. A strong pound also deterred international sales and low oil prices hurt industry investment.

Anglo American and Rio Tinto were big fallers on London's top index.

Top performing sectors so far today

Health Care Equipment & Services 7,238.39 +1.88%

Household Goods & Home Construction 16,499.97 +1.70%

Software & Computer Services 1,659.93 +1.59%

Construction & Materials 5,199.21 +1.58%

Gas, Water & Multiutilities 6,017.50 +1.47%

Bottom performing sectors so far today

Industrial Metals & Mining 708.62 -5.14%

Mining 7,381.87 -1.59%

Forestry & Paper 14,455.16 -1.25%

Food & Drug Retailers 2,532.34 -0.71%

Oil & Gas Producers 5,748.28 -0.59%