U.K. and European stocks were firmly higher, underpinned by a
strong showing from housebuilders as investors digested a better-than-expected
reading on the U.K. construction sector.
U.S. stocks jumped,
with tech shares leading the way.
Sterling fell against the
euro and held steady against the U.S. dollar, as traders looked
ahead to this month’s Brexit negotiations and more government support measures
expected later this week.
Gold held steady
as lingering fears of a surge in coronavirus cases countered pressure from
stronger equities and the market awaited U.S. services sector data expected
later in the day.
In equity markets, housebuilders rallied on reports that Chancellor Rishi Sunak
will announce plans this week to raise the threshold at which people start
paying stamp duty to as much as £500,000 from £125,000. Barratt Developments, Persimmon, Taylor Wimpey, Berkeley Group, Crest Nicholson, Vistry, Redrow and Bellway were all sharply
On the downside, Hochschild
Mining lost ground as it said it was suspending operations at
its Inmaculada mine in Peru after some of its workers tested positive for
This report has been prepared for private circulation. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.