European shares rise as UK homebuilder rally offsets oil, bond pressures
The STOXX 600 rose 0.48%, with UK housebuilders surging after Britain said it would confirm a new equity loan programme for first-time buyers in next month's budget. Brent crude jumped 3% and Germany's 10-year yield hit its highest since June 2009.
7%, track precious metals lower UK housebuilders bright spot after scheme announced Trevi hits six-month high as ICOP raises takeover bid (Updates to add comments, details and context from paragraph 6 onwards) By Sudeshna Ghoshal Sept 28 (Reuters) — European shares climbed on Monday, supported by a rally in British housebuilders, although gains were capped by a rebound in oil prices and elevated bond yields. 73 points by 0829 GMT. Most major regional bourses also traded higher.
British housebuilders' stocks surged after the government said it would confirm a new equity loan programme for first-time buyers in next month's budget, reviving a policy designed at boosting home ownership and supporting home construction. 5% and 15%. 58%. However, broader market gains were restrained by a 3% jump in Brent crude prices after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and end the conflict.
7% as precious metals fell on the back of a stronger dollar. 3%. Bond yields remained elevated. 6303%, its highest level since June 2009.
Central banks have responded to oil-driven inflationary pressures with a round of rate hikes, with the European Central Bank raising rates for a second time this year. "As hawkish Federal Reserve (Fed) — and other central bank — expectations gain ground, this week brings a relatively busy economic calendar, with the focus on the US labour market and inflation, and another important test for the AI trade with Micron earnings," said Ipek Ozkardeskaya, senior analyst at Swissquote. As companies begin reporting quarterly earnings next month, investors are likely to demand stronger results to look past the lingering effects of geopolitical tensions.
"They're still a key driver of long-term momentum in the stock market. com. Investors will also focus on speeches by ECB President Christine Lagarde and Bank of England Deputy Governor Dave Ramsden later in the day. Among individual stocks, Danieli plunged 12% after the Italian iron and steel factory equipment maker missed annual earnings estimates.
6% to a six-month high after construction peer ICOP raised its all-share takeover bid for the firm. com;)