| London stocks rose on Thursday after a delayed start, taking their cue from solid gains on Wall Street. The London Stock Exchange opened an hour later than usual following an issue with pricing data, but by 0930 BST, the FTSE 100 index was up 0.5% to 7,747.28 to continue momentum after stocks in the US rallied on the back of strength in the banking and technology sectors, which pushed the Nasdaq to another record high. Meanwhile, the pound was down 0.1% versus the euro at 1.1386 and up 0.3% against the dollar at 1.3459. Neil Wilson, chief market analyst at Markets.com, said: "Risk is very much back on again as markets put trade war fears well and truly to one side and focus on the fundamentals again. Rising yields pushing up bank stocks and the buoyancy of the tech sector conspired to lift US markets firmly yesterday and the positive mood carried on through Asia where share hit two-and-a-half year highs. "G7 meetings are in focus tomorrow but the market is not expecting much - equally the trade picture is not likely to deteriorate as the leaders get together. Risks seem on the upside as expectations for the US to relent on tariffs are already on the floor." On the macroeconomic front, data from Halifax showed that house prices were up 1.9% in the three months to May compared to a year ago, down from 2.2% growth in April but in line with expectations. On a monthly basis, prices were up 1.5% last month following a 3.1% drop in April, beating expectations for a 1% gain. Managing director Russell Galley said: “These latest price changes reflect a relatively subdued UK housing market. After a sharp rise in January, mortgage approvals have softened in the past three months. Whilst both newly agreed sales and new buyer enquiries are showing signs of stabilisation having fallen in recent months. “The continuing strength of the labour market is supporting house prices. In the three months to March the number of full-time employees increased by 202,000, the biggest rise in three years. We are also seeing pay growth edging up and consumer price inflation falling, and as a result the squeeze on real earnings has started to ease. With interest rates still very low we see mortgage affordability at very manageable levels providing a further underpinning to prices.” In corporate news, Auto Trader rallied even as its full-year revenue and pre-tax profit for the year fell short of City forecasts, as the company’s total dividend for the year came in better than expected. SSE advanced as investors seemed pleased with a fine of £1m meted out by energy watchdog Ofgem after the energy company provided some prepayment meter customers with inaccurate information in annual statements. Intertek gained after saying it has acquired UK and Malaysia-based network security and assurance services provider, NTA Monitor, for an undisclosed sum. Kier Group slumped as it announced the establishment of a joint venture with Homes England and Cross Keys Homes, to develop around 5,400 homes across the country over the next ten years. Unite Group slipped after it was granted planning approval for a 928-bed student accommodation development in Leeds, while NewRiver REIT nudged down as it announced the acquisition of Grays Shopping Centre in Essex for £20.2m. Things were looking pretty busy on the broker note front, with Capita the best performer on the FTSE 250 after Citi lifted the outsourcer to 'buy’. On The Beach was upgraded to 'buy’ at Numis and EasyJet was upped to 'outperform' at Exane. GVC was bumped up to 'outperform’ at Credit Suisse. Ryanair was cut to 'neutral’ by Exane and to 'hold’ by Deutsche Bank, while Paddy Power was cut to 'underperform' at Credit Suisse. Bakkavor was downgraded to 'underweight’ by Morgan Stanley and Marks & Spencer was downgraded to 'reduce’ at AlphaValue. Mediclinic was downgraded to 'hold’ at Investec. Balfour Beatty was initiated at 'equal-weight’ at Barclays, while Keller was started at 'overweight’ and Kier was rated new 'underweight’. | 
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