Housebuilder Taylor Wimpey (TW.) gains 3.7% to 151p as it follows the lead given by several of its peers and dismisses any short-term demand impact from the Brexit vote.
A third quarter update reveals the order book is up from £2.1bn to £2.3bn year-on-year.
The company says it is on track to deliver an improvement in its operating profit margin in 2016.
It commits to a previously-announced £450m total dividend payment to shareholders in 2017.
There were a few less encouraging items in the update, suggesting the market may have been right not to restore the share price to its position prior to the EU referendum.
NOT ALL GOOD NEWS
Sales rates in the second half to date have fallen to 0.7 per week versus 0.74 in the same period a year earlier.
Cancellation rates for the year-to-date have ticked up from 11% to 13% and the company says prices at the upper end of the market in central London have softened.
Although the impact of sterling weakness on input costs is limited by the modest number of direct imports the company makes, it is warning of a 3% to 4% increase in build costs in 2016. This is mainly down to a lack of skilled labour to keep up with the demand for new homes.
This issue could be exacerbated by the Brexit vote if it becomes more difficult for the industry to recruit from the European Union.
