FTSE 100 movers: Rate optimism lifts housebuilders
Interest rate optimism has the housebuilders higher ahead of tomorrow's Monetary Policy Committee decision.
Persimmon, Redrow and Barratt Developments are notching up the most eye-catching rises in the sector. UK-focused banks HBOS and Lloyds TSB are the picks of the bank sector, which has also rallied on the prospect on another cut in UK rates after the poor service sector figures yesterday.
An increasing number of US commentators suggesting that the worst of the credit crunch may be over has boosted US-focused firms, including plumbing supplies group Wolseley. US mortgage lender Fannie Mae is the latest troubled financial group to suggest the pressure is easing.
Ex-dividends dominate the fallers, though International Power is lower on a convertible bond issue to raise between €500-600m to fund further expansion.
FTSE 100 - Risers
Persimmon (PSN) 622.50p +5.78%
Wolseley (WOS) 564.00p +4.74%
Enterprise Inns (ETI) 412.00p +4.37%
3i Group (III) 877.50p +3.66%
Thomas Cook Group (TCG) 266.75p +3.49%
HBOS (HBOS) 515.50p +3.10%
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Cairn Energy (CNE) 3,321.00p +3.04%
Kingfisher (KGF) 138.00p +2.37%
FTSE 100 - Fallers
Old Mutual (OML) 125.80p -3.97%
Antofagasta (ANTO) 775.00p -3.37%
Rexam (REX) 466.00p -2.87%
Liberty International (LII) 946.50p -2.72%
International Power (IPR) 423.50p -2.53%
Centrica (CNA) 292.25p -1.93%
Kazakhmys (KAZ) 1,706.00p -1.90%
London Stock Exchange Group (LSE) 1,041.00p -1.61%
