UK housebuilders give UK blue-chips a push in early trade on Thursday after Persimmon's (PSN) update draws out sector buyers. The FTSE 100 stock reveals that forward sales have jumped as it enters 2017, welcome news following the pre-New Year profit alert from peer Bovis (BVS), and enough for investors to overlook Persimmon's easing sales run rate, which tailed off towards the end of 2016. Persimmon heads the FTSE 100 leader board, the shares up a little more than 4% at £18.87.
Industry peers Taylor Wimpey (TW.) and Barratt Developments (BDEV) are also in demand, both rising around 2.5% to 165.7p and 496.4p respectively.
The FTSE 100 index is trading around 10 points higher at 7,199.
Oil industry services business Cape (CUI) will 'materially' beat expectations for full year results for 2016 sparking a 20% share price jump to 182p. The company also flags new work awarded at one of its existing projects.
But going the other way is Tullow Oil (TLW). Its shares edge 1% lower to 323p as it announces that its chief financial officer Ian Springett was taking an extended leave of absence in order to undergo treatment for a medical condition. Les Wood, vice president of finance and commercial, has been appointed interim CFO.
Costain (COST) says its order book has been maintained at the same level as the prior year, and said it has secured a place on the Transport for London's Surface Transport Major Projects Framework. The company said it has continued to perform well since publishing its interim results on 24th August and expects to deliver full year results in line with expectations. The shares add 2.5% at 365.75p.
