LONDON: London-listed shares rose for the first time in four sessions on Wednesday as a surge in house prices to record highs powered stocks of homebuilders, with Barratt jumping to the top of the FTSE 100.
The blue-chip index and the mid-cap FTSE 250 climbed 1.3% and 0.5%, respectively, with homebuilders marking their best day in nearly two months as data showed house prices jumped 2% in August, the biggest month-on-month increase since 2004.
Britain's top homebuilder, Barratt Developments Plc jumped 8.6% as it forecast better advance sales and more home completions over the coming year, although it scrapped plans for a special dividend payout after annual profit slumped.
he FTSE 100 has bounced since a coronavirus-driven crash in March, but is still about 22% below its January highs, lagging US and European peers, which have been propelled by a raft of global stimulus.
Media stocks, beverage companies and personal goods makers were among the biggest gainers
The pan-European STOXX 600 index rose 1.5% after four sessions of declines on Wednesday on signs of a recovery in global manufacturing activity.-Reuters
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