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Builders' Shares Push Ftse To 14 Year High

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Weren't there some recent articles saying that the fall in builders' shares meant a crash was imminent?

A rally in housebuilding shares briefly pushed the FTSE 100 to its highest level in 14 years.

The FTSE 100 index touched 6,877.39 at one point - its highest level since January 2000 - before falling back to 6,859.75, up 8 points on the day.

Shares in housebuilders led the way, following upbeat comments from FTSE 250 firm Taylor Wimpey.

Its shares rose 7.2% after saying it was confident it would meet or exceed financial targets by the end of 2015.

This lifted rival housebuilders in the FTSE 100, with Barratt Developments up 2.9% and Persimmon 2.2% higher.

Edited by rantnrave

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phew...QE fuelled bankers breath sigh of relief their riskiest clients, the builders, are going to hit their targets, repay their loans, and sell all their stock..

triples all round.

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Is anyone surprised when the First Time Buyer's Summit (thanks Grant Shapps/Michael Green) consisted of builders, developers, estate agents, financiers and not a single first-time buyer?

It was obvious which way it was going to go.

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Ftse 100 hasn't done anything for 15 mnths but as long as Yellen and Kuroda keep printing like maniacs there's always the risk of an upside breakout.

Edited by zugzwang

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  • 404 Brexit, House prices and Summer 2020

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      • down 5% +
      • down 2.5%
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      • up 5%

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