Today, the FTSE 100 index was up 60 points at 8,231. This rise happened while the UK populace was trooping to the polling booth for the general election. There was unprecedented optimism regarding the election; it was one that has the effect of commodity prices rising.

Construction Growth and Challenges

The United Kingdom construction sector posted growth in the fourth month in succession. However, the increase eased as housebuilding declined. The construction PMI fell to 52.2, this is down from 54.7; in May, and below the expected 53.5 A PMI more significant than 50 means expansion within the sector. Most of the boom came from industrial projects however house building declined after a rise in May this was a rise and marked the first after falling for 19 months. S&P Global’s Andrew Harker attributes this slowdown to uncertainty over the upcoming election. He adds that it is expected the developments will improve after the election.

Today, shares in Barclays climbed more than 1.5% this morning following a deal to offload its German consumer banking operation to Bawag, the Austrian lender. Barclays said the sale is in line with their disciplined strategy. The deal is expected to release around $four billion (£3.4 billion) of risk-weighted assets. Barclays clarified that this sale will not just increase shareholder returns. Bawag expects to generate a profit of more than €100 million before tax by 2027 from the transaction.

New Car Sales Hit Over One Million in 2024

Over one million new cars were sold within the UK in the first six months of 2024. This is the first time this has happened since the pandemic. The SMMT said new car registrations in June rose by 1.1% to more than 179,250, pushing the total for the year above 1,000,000. Sales are still more than 20% below pre-pandemic levels. Mike Hawes, head of the SMMT, said that while the market is recovering again, challenges are far from having gone. He believes the correct guidelines could help re-energise the market and support a move to 0-emission vehicles.

Smith and Nephew Leads FTSE 100 Risers

Shares in medical equipment maker Smith and Nephew soared by just under 6.5% today. The move comes as activist investor Cevian Capital acquired a 5.02% stake in the company. Cevian Capital takes big minority stakes in European public companies and sets about boosting their value. Shares in Smith and Nephew had been trading low at 1,048p but this investment is a vote of confidence in the company’s future.

Election Day Buzz Lifts London Stocks

London’s blue-chip shares rose as Britons cast votes in the widely watched election. Labour is set for a big win, according to final preleta opinion polls. People wonder whether Labour could secure the greatest majority in parliamentary records. Patrol: Inactivity in company news, polymer maker said strong 0.33 -quarter performance despite quiet day in business records of the FTSE 250. Group volume increased by 20% to 979 tonnes compared to last yr, and revenue increased by 2% to £74 million. Tesco also stated that its body of workers took in to £30 million from its share scheme. Workers who put round £68 a month over 5 years will now be seeing earnings of over £2,500.