FTSE 100 opens higher as Labour sweeps to victory; housebuilders regain lost ground - Market Report

Proactive - Interviews for investors

London's FTSE 100 rose at the open on Friday as the Labour party swept to victory in the general election. Housebuilders led the charge as Labour vowed to kickstart the development of thousands of additional new homes. Barratt Developments, Vistry Group, Persimmon and Taylor Wimpey were among the top risers, shrugging off a 0.2% decline in house prices in June. The Halifax House Price Index showed a £476 decrease in the average house price to £288,455. Over the past year, prices have risen by 1.6%, with a modest increase of 0.4% since the beginning of 2024. Meanwhile, Shell is expected to write down up to $1 billion in impairment charges after pausing construction of its 820-000-tonne-per-year biofuels facility in Rotterdam, the Netherlands. In a second-quarter trading update, the oil major said it expects non-cash post-tax impairments of up to $2 billion, with up to half of that arising from pausing on-site construction of the Rotterdam facility. #proactiveinvestors #proactiveinvestors #marketreport #ftse #ftse100 #election2024 #housebuilds #barrat #persimmon #halifax #taylorwimpey #vestrygroup #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews