It was a bit late at night, and this year’s “Santa’s rally” (Santa’s rally) was a sign of an exciting addition to the stock market for the week before Christmas, bringing the UK’s blue-chip index above the 7,700 mark for the first time.
Although the major US stock indexes have hit a number of new highs in 2017, the FTSE 100 index turned flat in the second half and only eclipsed the previous record in May over May.
Despite the slowdown in U.S. gross domestic product growth, the holiday refueling and the pound fell 0.5 ppt against the dollar, pushing the index up 78.76 points to 7603.98 points, up 1.1 percentage points.
Most major moves were made by the energy and mining divisions, while private hospital owner Mediclinic soared 43 pence to 630 pence, its highest price in two months.
One of the best performing industries in 2017, home builders missed the upside after the government announced a ban on “feudal” leasing practices.
? ommunities secretary Sagiad Jiawede believes that home buyers are working with a “warm response” from the public to urge the move to put an end to the practice of “unprofessional charges and arduous rental strip over clauses” through unnecessary leases.
B Government-funded programs uoyed to address housing crisis in the UK, such as helping to buy, housing construction stocks have been in London for a strong year.
But yesterday, Taylor Wimpey withdrew the plan, with Taylor Wimpey having to set aside ￡ 130m to convert the controversial “double” lease to 0.6p to 205.4p, subject to Retirement home expert McCarthy & Stone, who suggested the biggest impact, or 9.5pc, to 153.6p.
Fidelity 100 peers Berkeley and persimmons fell 40 pence to 41.70 and 21 pence to 27.01 pounds.
Elsewhere, Holiday Inn owner Intercontinental Hotels jumped 97 pence after telling shareholder Donald Trump that corporate tax cuts would cut rates from January’s “highs and highs” To 47.03 pounds.
The company said that the tax bill for 2017 will remain at its lowest level in the 1930s with 64% of U.S. profits. Morgan Stanley will raise its corporate earnings forecast by 10 percentage points next year.
RBC Capital Markets tells clients that its competitive advantage will help maintain its high level of growth, while fast-fashion tycoon Asos will rise 220 pence to ￡ 66.70.