Sector movers: House builders and banks rally

8th Jul 2016 18:37

(ShareCast News) - House builders, banks topped the blue-chip winners' ladder at close of play on Friday, having last week and this suffered under the shadow of Britain's non-binding vote to quit the EU.Taylor Wimpey, Berkeley Group, Barratt Developments and Persimmon sprinted higher with gains of 6.215-7.7%, with commercial property figuring further back among risers."House builders have also had a decent day with Taylor Wimpey, Berkeley Group and Persimmon leading the way," said Michael Hewson, chief market analyst at CMC Markets UK."But here (in the house-building sector) again it's been a disappointing week," Hewson said.Banks also sortied north, Royal Bank of Scotland leading the way and Lloyds following close behind, albeit off the house builders' pace.Hewson argued that RBS and Lloyds had "enjoyed a welcome respite," but overall had turned in a lacklustre performance for the sixth successive week.Meantime, several miners were under the cosh, guided by Fresnillo and Antofagasta, as were a string of pharmaceuticals, piloted by Shire and Astrazeneca.Beverage specialists Diageo and Coca-Cola HBC were also on the back foot.