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SHARE WATCH: Construction shares mixed ahead of interest rate cut

Construction shares had a mixed morning ahead of an anticipated interest rate cut by the Bank of England today.

The FTSE 350 Construction and Materials index rose 0.05 per cent in early trading to 3,603 points, but the FTSE 350 Support Services index dropped 2 per cent to 2,885.

Ennstone was again the biggest riser in the industry, continuing its positive week after gaining another 7.5 per cent. Meanwhile Taylor Wimpey gained 4.7 per cent.

Interserve dropped 5 per cent, house builder Berkeley Group fell 4.5 per cent and plant hire firms Ashtead, Aggreko and Speedy Hire all lost more than 4 per cent.

The FTSE 100 itself was down 1 per cent at 4,462 points as the Bank of England prepared to cut interest rates to their lowest level in history.