FTSE recovers as oil majors, homebuilders surge [Reuters (UK)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
FTSE recovers as oil majors, homebuilders surge - Reuters 4 Min Read (Reuters) - Britain’s FTSE 100 rebounded from early losses on Thursday, as surging oil prices and signs that major UK homebuilders were planning to resume work boosted sentiment, with investors shrugging off some shockingly weak economic data. After falling as much as 0.6% in the morning session, the blue-chip FTSE 100 .FTSE ended 1% higher, boosted by oil majors Royal Dutch Shell ( RDSa.L ) and BP ( BP.L ) as crude prices recovered from a collapse earlier this week. Shares in Taylor Wimpey ( TW.L ) surged 9.4% and smaller peer Vistry ( VTYV.L ), formerly known as Bovis Homes, jumped 11.5% after signalling plans to restart construction work in the next two weeks. Taylor Wimpey also said it continued to sell houses online during the lockdown and posted solid year-on-year growth in orders, sparking a rally in shares of fellow homebuilders Barratt Development ( BDEV.L ) and Persimmon ( PSN.L ). That added to
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