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SHARE WATCH: Construction shares help FTSE 100 rise

Construction shares helped the FTSE 100 to small gains offsetting losses from mining shares.

The FTSE 350 Construction and Materials index was up 1.6 per cent at 3,530 points while the FTSE 350 Support Services index rose 0.7 per cent to 2,838 points.

Taylor Wimpey led risers with its shares up 10 per cent, on top of yesterday’s 7.5 per cent gains after Construction News exclusively revealed an email to staff from chief executive Pete Redfern.

Morgan Sindall gained 8 per cent after a positive trading update said the firm was on target for record profits.

House builders Bovis Homes and Barratt Developments joined Taylor Wimpey in enjoying a good morning, rising 6 per cent and 9.5 per cent respectively.

Other healthy risers included plant hire firm Ashtead, up 7.5 per cent and Keller Group, up 4 per cent as construction shares enjoyed a fourth consecutive day of gains.

The FTSE 100 gained 0.08 per cent in early trading, reaching 4,327 points.