FTSE closes at 5717.5

Last Modified: 27 Mar 2008
Source: ITN

The FTSE 100 Index has held firm in positive territory, closing up 57.1 points at 5717.5.

A rally in the housebuilding sector and strong gains from banks gave the market a boost, with positive trading updates also lifting blue chips.

Charles Church-owner Persimmon led the session's gains, up 7 per cent, or 52p at 789.5p, with investors taking advantage of Wednesday's sell-off to buy into the stock.

Plumb Center group Wolseley, which was another loser during Wednesday's gloomy session, also recovered some lost ground, gaining 25p to 552p.

Halifax Bank of Scotland also benefited from the wider positive market sentiment, with early gains on Wall Street and rising oil prices adding to the buoyant mood.

HBOS - Britain's biggest mortgage lender - recovered from last week's battering to stand nearly 3 per cent higher, up 16p at 557.5p.

Barclays followed with a gain of 8.5p to 453.25p, while Royal Bank of Scotland was 2.75p higher at 343.25p.

The biggest loser was B&Q owner Kingfisher as the home improvement group cut its dividend by 50 per cent and said it was not expecting an imminent pick up in trading conditions.

Its shares topped the FTSE fallers board with a drop of 4.7p to 130.4p.

Winners: Persimmon up 52p at 789.5p, Cairn Energy ahead 130p at 2816p, Wolseley up 25p at 552p and FirstGroup up 22p at 566.5p.

Losers: Kingfisher down 4.7p at 130.4p, Kazakhmys down 39p at 1567p, National Grid off 8p at 706.5p and Experian Group down 4.25p at 375p.

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