Sky shines but rates warning knocks back UK’s housebuilders - London Report

BRITAIN’S top share index closed higher yesterday, with broadcaster Sky climbing after Deutsche Bank upgraded the shares and energy stocks rising as crude oil rose.

The FTSE 100 index closed 0.2 per cent higher at 6,753.75 points, extending a one per cent rise on Monday when markets welcomed a Greek debt deal.

Shares in Sky rose 4.1 per cent, the biggest gain in the FTSE 100 index, after Deutsche Bank upgraded the stock to “buy” from “hold”.

The UK Oil and Gas index rose 0.6 per cent after falling nearly one per cent earlier in the session, tracking moves in oil prices. Benchmark Brent crude futures were up nearly one per cent, after falling sharply when Iran and six global powers reached a landmark nuclear deal.

Shares in Royal Dutch Shell rose 1.1 per cent. BP steadied after falling earlier.

Housebuilders fell after Bank of England Governor Mark Carney said the time was getting closer for the first increase in interest rates since the financial crisis. Shares in Persimmon, Taylor Wimpey and Barratt Developments fell.

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