Economy: UK Stocks Close at All-Time High, Sixth Straight Session

London, UK stocks pushed further into record territory in bouncy trade on Thursday, supported by a rally in shares of house builders on the back of upbeat news from Persimmon PLC.

The FTSE 100 index rose 0.1% to 7,195.31 to close at an all-time high for a sixth straight session. It was also an eighth straight day of wins for the benchmark. MarketWatch reported today that the FTSE was driven higher by shares of Persimmon PLC, which rose 7.2% today after the home builder, the UK’s largest by market capitalization, said full-year revenue rose 8% after it sold 599 more homes than in the previous year at a higher average selling price. Housebuilders were also among biggest advancers on Wednesday after data showed mortgage approvals rose to an eight-month high in November.

This was not the end of good news for the British financial sector and economy as he U.K. services purchasing managers index showed the sector expanded at its fastest pace since July 2015 in December. The PMI rose to 56.2 in December from 55.2 a month earlier, beating forecasts of a 54.5 reading.

Source: Qatar News Agency