Builders lead stock market bounce | Business

London’s leading shares index has joined a global bounce amid optimisim that the coronavirus is waning and hopes of more stimulus action by Beijing.

The FTSE 100, which was down yesterday after a warning from Apple about the impact of the virus on revenues, rose by 61 points, or 0.8 per cent, to 7,443.21.

Housebuilders gained after an upgrade by HSBC and inflation data which showed that annual house prices grew across all regions last month, the first time in nearly two years. Berkeley added 162p, or 3 per cent, to £55.24, while Taylor Wimpey and Persimmon gained by 1.8 per cent and 1.6 per cent respectively. Analysts at HSBC said that the decisive election result had unleashed pent-up demand.

Renewed optimism over the coronavirus