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SHARE WATCH: Shares rise ahead of expected interest rate cut

Construction shares went up this morning as investors geared up for an expected interest rate cut by the Bank of England.

The FTSE 350 Construction and Materials index went up 1 per cent to 3,093 while the FTSE 350 Support Services index rose 2 per cent to 2,659.

The FTSE 100 itself was also up 1.5 per cent to 4,233 points with investors positive about an expected interest rate cut of between 0.5 per cent and 1 per cent.

The morning’s big winners included house builders Persimmon and Barratt up 10 per cent and 14.5 per cent respectively.

All the listed building materials firms also enjoyed a good morning on the stock market with Wolseley up 9 per cent, Marshalls up 6.2 per cent and Travis Perkins up 6.5 per cent.