FTSE 100 Rises Led by Homebuilders
The FTSE 100 traded higher on Monday, following a modest gain in the previous session, as UK homebuilders surged on expectations surrounding the revival of the Help to Buy scheme. Persimmon jumped more than 15%, Barratt Redrow gained 14.7%, Howden Joinery rose 5.1%, and Kingfisher added 4.2%. Chancellor John Healey is due to address the Labour Party conference ahead of next month’s budget, with the proposed Help to Buy revival offering loan guarantees to support first-time buyers purchasing new-build homes. Market sentiment was tempered, however, after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that supported markets late last week. Oil prices rose, lifting Shell and BP by around 1% each. Mining stocks fell broadly, with Fresnillo, Endeavour, Antofagasta, Anglo American, Glencore and Rio Tinto down between 1.8% and 5.5%. Entain fell more than 2% despite maintaining its guidance.
The FTSE 100 traded higher on Monday, following a modest gain in the previous session, as UK homebuilders surged on expectations surrounding the revival of the Help to Buy scheme. 2%. Chancellor John Healey is due to address the Labour Party conference ahead of next month’s budget, with the proposed Help to Buy revival offering loan guarantees to support first-time buyers purchasing new-build homes. Market sentiment was tempered, however, after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that supported markets late last week.
Oil prices rose, lifting Shell and BP by around 1% each. 5%. Entain fell more than 2% despite maintaining its guidance.