* FTSE 100 touches new record, sets 14th day of gains
* Pharmaceuticals rebound after Trump scare
* Housebuilders top the index
* ITV buoyed by broker optimism
(Adds details and updates prices at close)
By Kit Rees and Helen Reid
LONDON, Jan 13 Britain's blue-chip share index
reached record highs on Friday, extending its historic winning
streak to a 14th straight day of gains.
The index's longest winning run since its inception in 1984
has also been notable for the relatively modest daily gains.
After touching an all-time record high of 7,338.49 points, it
ended the session at a record closing level of 7,337.81 points,
up 0.6 percent.
"There are people who want to say this is the moment it's
going to turn around, but each day they get proven wrong," IG
market analyst Josh Mahony said.
He added that a likely further devaluation of the pound in
the next months would support the index higher. "But the gains
are not exuberant."
Brokers pushed broadcaster ITV towards the top of
the FTSE. Goldman Sachs added the stock to its conviction list,
saying it is a likely M&A target. The broadcaster was also one
of JPMorgan's top picks in the European media sector.
House-builders also helped the FTSE rally, with house
improvement company Kingfisher marking its best daily gain since
September. Barratt Development led sectoral gains.
Persimmon and Taylor Wimpey also gained 1.4
percent and 0.9 percent respectively.
"If you want to sleep at night, you'd probably buy a
Persimmon or Taylor Wimpey. If you want a bit more rock and
roll, you might buy a Redrow or a Bovis," Jefferies
analyst Anthony Coding said.
Pharmaceuticals were buoying the index, rebounding after
being weighed down on Thursday by U.S. President-elect Donald
Trump's criticism of high drug prices, and after a meeting of
executives of companies including Britain's Shire to
discuss caps on price increases.
Shares in Shire were up 2.3 percent, and peers AstraZeneca
and Hikma also gained, up 2 and 1.2 percent.
Rolls Royce dragged on the index, down more than 2
percent, while precious metals miners Randgold Resources
and Polymetal International Fresnillo lost around 1.4
percent, tracking the price of gold, which was down from a
Building materials supplier SIG surged to the top of the
mid-cap index, up 16.1 percent after it reported higher
full-year sales. Its shares marked their biggest one-day gain
since March 2009. Blue chip Travis Perkins was up 3
percent, and peer Grafton also gained 8.4 percent.
(Reporting by Kit Rees and Helen Reid; Editing by Angus