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UK Market Update : 
UK Banks Rise, Home Builders Fall
Author: 123jump.com Staff
123jump.com
Last Update: 2:03 PM EDT April 02 2008

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UK stocks rose after markets in the U.S. traded higher. In London trading FTSE 100 stocks advanced 1.08% or 63.3 at 5,915.90. The Bank of England reported that 73,000 mortgage loans were approved compared to 74,000 in January. Separately, the Building Societies Association said the value of mortgage approvals by customer-owned lenders fell 31% from a year earlier to £3.6 billion pounds.

 
Severn Trent fell after it reported full year net income in 2007 rose 9.5% to £252 million from £230 million a year ago.

Homebuilders also fell as bank loans for house purchase remained at a nine-year low in February. Persimmon fell 1.95% and British Land Co. shed 0.78%.
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