Newspaper article The Journal (Newcastle, England)

Bellway at the Forefront of a Day of Gains

Newspaper article The Journal (Newcastle, England)

Bellway at the Forefront of a Day of Gains

Article excerpt

Byline: Carmen Baylis

UK investors were buoyed by the hope that the vote on Ireland''s austerity budget would be successful and gains in commodity prices meant that miners featured heavily on the FTSE 100 Index leader board.

African Barrick Gold, Antofagasta and Eurasian Natural Resources rose 6.1%, 4.9% and 3.3% respectively. The UK''s large cap Index gained 38 points over the session to close at 5808.

Corporate results also played their part in investors'' optimistic mood. Tesco ended the day up 2.4% at 430p after giving a well received trading statement. Wolseley also released a positive Interim Management Statement and the company''s share price was boosted by 2.7% to 1880p.

Good news also featured in the regional portfolio as North East housebuilder Bellway issued an interim management statement yesterday for the six months to 30 November 2010. The company reported that although it did not experience the usual strength in the housing market during the Autumn selling season, since the government''s Comprehensive Spending Review, reservations have exceeded expectations. …

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