Housebuilders put in a strong performance on the stock exchange last week following news that interest rates will be held for another month.

The Monetary Policy Committee鈥檚 decision enabled the sector to recover from wobbles early in the month, with Redrow up 5.9% to 564p, Bovis Homes up 5.4% to 拢10.19 and Taylor Woodrow rising 4.7% to 431.75p.

The good vibes rippled across to construction, where Galliford Try, which has a strong housing presence, rose 5.7% to 166p and Balfour Beatty

was up 5.1% to 450p. Top dog in the sector was Morgan Sindall, whose purchase of part of Amec has made it a favourite in the City. The company鈥檚 shares rose 8.2% to 拢16.14.

The only listed company to completely miss out on the good fortune was architect SMC. The company, which is listed on the alternative investment market, last week admitted it was cutting staff after a series of profit warnings. It share price plummeted a further 16.5% to 33p.