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SHARE WATCH: Construction shares continue surge

Nearly every stock exchange listed construction firm saw its share price rise this morning amid optimism that interest rate cuts by central banks will ease the financial crisis.

The FTSE 350 Construction and Materials index increased 4.6 per cent to 2,788 while the FTSE 350 Support Services saw early morning gains of 2.75 per cent to 2,662.

Big risers included the house builders with Taylor Wimpey and Barratt leading the way with 17.5 per cent and 15 per cent gains respectively.

Travis Perkins also saw a healthy rise, up 12.5 per cent giving the builders merchant a rise of more than 50 per cent since last Monday.

The FTSE 100 was up 0.73 per cent to 4,409 this morning meaning the index has gained 13 per cent over the past week.

But overall, October remained the FTSE 100’s worst month since I987.