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SHARE WATCH: Construction shares rise thanks to positive retailers

Construction shares enjoyed another good morning on the back of a number of positive trading updates from high street retailers easing fears of a drop in consumer spending.

The majority of construction firms enjoyed slight rises, not least the major house builders who were all up this morning.

Overall the FTSE 350 Construction and Materials index was steady at 3,595 points while the FTSE 350 Support Services index was up 0.4 per cent at 2,996.

Ennstone enjoyed a second day of big rises, up 47.5 per cent this morning, while consultant Waterman Group was up 14.5 per cent.

Meanwhile house builder Taylor Wimpey continued its slow and steady rise, up 8.5 per cent, which began before Christmas after Construction News exclusively revealed a positive email from chief executive Pete Redfern to his staff.

The biggest faller was Styles and Wood group, down 11 per cent to 8 pence a share.

The FTSE 100 was up 1 per cent in early trading at 4,625 points.