Housing stocks bounced back after heavy losses yesterday (6 July) lifted by strong home price data.
The FTSE 100 Index rose 88.8 points to 6,544.6, as shares in Taylor Wimpey and other housebuilders recovered after hefty falls in the previous session. The FTSE 250 Index was up 196.4 points to 15,866.4.
The latest house price data from Halifax, showed that prices in June rose 1.3% on a month-on-month basis, although this suggests the underlying growth may be slowing.
This came on a day that a seventh UK property fund suspended redemptions for investors, taking the value of frozen real estate funds to more than half of the sector's £25bn ($32bn) total.
However, Taylor Wimpey lifted 4.7p to 120.6p, Persimmon was 44p higher at 1333p and Barratt Developments was up 7.6p to 340.2p.
Primark owner Associated British Foods, rose 249p to 2802p, after it said despite the looming uncertainties of a post-Brexit market it intends to continue with the European and American expansion of the fashion chain.
Trustnet Direct market analyst Tony Cross said that in regard to Primark's growth "a weaker pound is seen as helping here".
In afternoon trading the biggest risers in the FTSE 100 Index were Associated British Foods (+249p to 2802p), Provident Financial (+192p to 2422p), Schroders (+132p to 2333p), Glencore (+9.1p to 168.8p) and Anglo American (+41.3p to 771.5p).
The biggest losers in the FTSE 100 Index were Randgold Resources (-215p to 9500p), Fresnillo (-28p to 1980p) Hikma Pharmaceuticals (-20p to 2548p), National Grid (-9p to 1106p) and Mediclinic International (-10p to 1096p).
In afternoon trading the biggest risers in the FTSE 250 Index were Thomas Cook (+4.7p to 59.3p), Intermediate Capital Group (+30.8p to 484.4p), NCC Group (+17.6p to 279.5p), Aldermore (+6.5p to 111.3p) and International Personal Finance (+16p to 276.6p).
The biggest fallers in the FTSE 250 Index were Centamin (-5.1p to 160.7p), TalkTalk (-7.9p to 209.2p), Hochschild Mining (-8.1p to 222.4p), McCarthy & Stone (5.8p to 139.2p) and Pennon Group (-26p to 906.5p).