London’s FTSE 100 was boosted by homebuilders this morning as investors awaited key US inflation data that has kept them on edge this week.

The blue-chip index advanced 0.1 per cent in early trading, as property developers Barratt Developments and Persimmon buoyed the index.

Meanwhile, the mid-cap FTSE 250 added 0.3 per cent, as housebuilder Vistry Group shot up 3.7 per cent on strong property demand.

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Market movers

The morning’s biggest winner was property developer Barratt Developments, who rose 2.9 per cent, followed by Melrose Industries, up by 2.8 per cent.

Housebuilders Taylor Wimpey and Persimmon also rose 2.4 per cent and 2.3 per cent respectively.

Miner Polymetal was the morning’s biggest faller, dropping by 2.7 per cent, followed by hotel group Whitbread’s 2.2 per cent hit.

Meanwhile, Hikma Pharmaceuticals and Rolls-Royce both dipped by 1.4 per cent and 0.9 per cent respectively.

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Around the world

Asian shares rallied to put global equities on track for seventh day of gains as investors bet the US will lead the world out of the pandemic.

Tokyo led the rise, with the Nikkei jumping 2.1 per cent, while MCSI’s index of Asia-Pacific shares outside Japan added 1.1 per cent.

The Hang Seng climbed 0.1 per cent, but Chinese blue chips were an outlier, losing 0.1 per cent a day after closing near a three-month high.

Elsewhere, US stocks were poised for further gains after the S&P 500’s 0.1 per cent rise overnight.

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