Housebuilders put in a strong performance on the stock exchange last week following news that interest rates will be held for another month.
The Monetary Policy Committee’s decision enabled the sector to recover from wobbles early in the month, with Redrow up 5.9% to 564p, Bovis Homes up 5.4% to £10.19 and Taylor Woodrow rising 4.7% to 431.75p.
The only listed company to completely miss out on the good fortune was architect SMC. The company, which is listed on the alternative investment market, last week admitted it was cutting staff after a series of profit warnings. It share price plummeted a further 16.5% to 33p.