Britain’s leading share index has risen sharply on the prospect of more help for the housing sector in Rishi Sunak’s Budget later this week, as well as a boost for government stimulus in the US. The FTSE 100 was up by about 2% – or more than 100 points – in morning trading, with builders such as Persimmon, Taylor Wimpey and Barratt Developments leading the way. It was part of a global rally for stocks following the approval by the US House of Representatives on Friday of President Joe Biden ‘s $1.9trn coronavirus pandemic relief bill. Please use Chrome browser for a more accessible video player Businesses react to chancellor’s promises In London , the rally for house builders came after it was revealed over the weekend that a scheme to guarantee 95% of mortgage loans for first-time buyers will be announced in the Budget . They are also in line to benefit if, as reported, the chancellor extends a stamp duty holiday announced last summer. Advertisement Persimmon and Taylor Wimpey were each up by around 7%, with mining and oil stocks also climbing amid the global upturn in sentiment. Hopes for the reopening of the UK economy – as… Read full this story
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