Market report: Persimmon profits fall but orders build

A bullish set of results for Persimmon lifted construction stocks on Tuesday, though their gains weren’t enough to stop the FTSE 100 slipping into the red. Profits at the housebuilder dropped 43pc in the first half, but it offered an upbeat assessment of the coming months and announced a dividend. The group said it is in an “excellent position” to grow despite looming challenges. Citi’s Ami Galla said the results were stronger than expected at a profit level, with Persimm