Housebuilders boost FTSE

Housebuilding shares continued their rebound today as traders eyed value in the sector after yesterday’s quarter point cut in interest rates.

Taylor Wimpey led the charge with a gain of 7%, while the FTSE 100 Index was up 1% or 63 points to 6548.6, amid hopes that the start of next year will not be as grim as some analysts had been forecasting earlier this week.