Housebuilders continued their upward trajectory on the London Stock Exchange at the end of the week, as Persimmon became the latest listed name to confirm that it will restart work on sites that have been closed during the coronavirus crisis.
Persimmon said this morning that it will have a phased reopening of sites starting next week.
The company’s shares had already risen to their highest level since the UK went into lockdown, after peers Taylor Wimpey and Vistry Group said they would restart construction. Persimmon nudged up by 4p today to 2,193p.
Taylor Wimpey added to a near-10% rise yesterday with a further 2.5% gain, closing at 151.55p. That was the sharpest rise on the FTSE 100 index, which finished trading 1.3% lower at 5,752.
As hopes rise of home construction beginning again, many other listed housebuilders saw their share price benefit, including Countryside, Bellway and Crest Nicholson.
Shopping centre owner intu posted a rise of almost 11%, closing the session at 5.46p. Other REITs to rise during the day included Hammerson and Great Portland Estates, although the three big REITs in the FTSE 100 – British Land, Landsec and SEGRO – all posted falls.
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