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SHARE WATCH: Construction firms continue recovery

Construction shares continued their recovery today led by big gains from the house builders.

In early trading the FTSE 350 Construction and Materials rose 3.5 per cent 2,620 while the FTSE 350 Support Services was up 2.8 per cent to 2,533.

The FTSE 100 rose 0.9 per cent to 4,280 as the stock market continued to buoyed by expectations of a Bank of England interest rate cut next week.

The recovery follows a day of share price rises yesterday.

All the house builders saw big gains this morning, led by Barratt, which was up 16 per cent to 63 pence a share, while Bellway rose 14 per cent to 554.5 pence.

Other big gainers included builders merchant Travis Perkins, up 11 per cent to 287 pence and plant giant Speedy Hire up 16 per cent to 220 pence.