Construction stocks rally in early morning trading

Construction and housebuilding stocks began to rally this morning following yesterday’s Stock Market plunge that wiped £77bn off the market.

By early morning, large stocks such as Persimmon, Carillion and Balfour Beatty had recovered some of the lost ground. In the volatile climate all eyes are now on Wall Street, which opens at 2.30pm.

Early trading in the Far East was described as “soggy” by one analyst.

Barratt and Taylor Wimpey were two of a handful of stocks to close the day up yesterday as investors took advantage of their recent weakness.

Analysts expect bigger stocks to weather the storm better than others.