UK shares mixed as miners, yields weigh; FTSE 100 down 0.10%, FTSE 250 up 0.31%
FTSE 100 closed at 10,684.88, with precious metals down 4.9% and industrial miners off 1.2%. FTSE 250 rose as homebuilders rallied after the government confirmed plans for a first-time buyer loan scheme.
(Updates to markets close) By Anand Gopal R and Avinash P Sept 28 (Reuters) — London's FTSE 100 inched lower on Monday as weaker metal prices and rising bond yields kept risk appetite in check, while a rally in homebuilders, after the British government announced an incentive scheme for first-time homebuyers, lifted the FTSE 250. 31%. 2% on lower gold and copper prices. 9%.
Oil prices climbed more than 3% after the US rejected an Iran peace plan, reinforcing inflation fears and higher interest rates worldwide. Reflecting those concerns, the yield on the British 10-year government bond rose to its highest since July 2007. GB/ Separately, Bank of England Deputy Governor Dave Ramsden said persistently high inflation was having an impact on his thinking about interest rates. Traders are expecting at least one quarter-point rate hike by the BoE this year, according to data compiled.
The household goods & home construction index surged 10% to a six-month high helping limit losses on the FTSE 100, after the government confirmed plans to include a loan programmein next month's budget to boost home sales. “The UK government's new equity loan scheme could be the catalyst the UK homebuilding sector has been waiting for. While the finer details will matter, anything that lowers the deposit barrier for first-time buyers should translate into stronger demand", Jack Fletcher-Price, equity analyst at Morningstar, said. 7%, while Persimmon, Taylor Wimpey and Bellway added between 15% and 10%, boosting the domestically focused FTSE 250.
Ladbrokes owner Entain slid 5% after warning Brazil's ban on online sports betting and gaming would hurt its 2026 online gaming revenue growth. com)