Taylor Woodrow was the clear winner in the City last week. The firm鈥檚 share price rose 16% to 489.5p in the week it announced its proposed merger with George Wimpey, and continued to rise throughout the week as rumours abounded of a Persimmon intervention to thwart the proposed deal.

The other parties did not enjoy the same fortune, however: George Wimpey rose an imperceptible 0.1% and Persimmon crept up 0.4% .

They were outperformed in the housing sector by Redrow, up by 7.4% to 651.5p, and Bellway, up 5.1% to 拢15.90, as the City continued to scout the sector for signs of the next big housing tie-up.

As the results season drew to a close, the construction sector experienced a drop following the previous week鈥檚 highs. Galliford Try fell 4.5% to 171p, and Morgan Sindall dropped 3.8% to 拢12.53. The only significant riser was Henry Boot, up 5.9% to 拢11.75.