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Market Report: Builders surge, FTSE 100 mixed after Sunak handout

Headlines from the Proactive UK newsroom.

The FTSE 100 was mixed as investors reflected on Rishi Sunak’s mini-budget stimulus plans. The blue-chip index shed 12 points to 6,143 having opened higher.

Housebuilders lead the risers as Persimmon said it would consider paying a final divided in 2020 after forward sales had picked up. Builders were a key beneficiary of the chancellor’s hand-out yesterday as stamp duty thresholds were raised.

Less happy were the power companies who reacted furiously to regulator Ofgem’s plans to lop £20 a year off household bills at their expense. It is part of a £25bn upgrade to the UK’s infrastructure. 

Gold remained buoyant after bursting through the US$1,800 barrier for the first time in nine years yesterday. The price was around US1,812 per ounce today.

Caledonia Mining (LON:CMCL), meanwhile, described its gold production performance in the last quarter as an outstanding achievement. Output from the Blanket mine in Zimbabwe rose 6.2% to 13,500 ounces.

Ariana (LON:AAU), another gold miner, was also in good cheer as production at the Kiziltepe Mine in Turkey in the June quarter was also higher than anticipated. Kiziltepe produced 4,700 ounces.

Ceres Power (LON:CWR), the clean energy specialist. said revenue for the period to June 30 will be in the region of £20mln, representing year-on-year growth of 20-25%. Looking ahead, the fuel cells specialist said it expects to sign new customer partnerships.

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