UK housebuilders’ stocks surge on new homes scheme for first-time buyers – business live

Rolling coverage of the latest economic and financial news Elsewhere this morning, oil is rising again as optimism fades on possible progress in talks between the US and Iran . Brent crude, the international benchmark for oil prices, rose by as much as 3.29% this morning to $107.

Rolling coverage of the latest economic and financial news Elsewhere this morning, oil is rising again as optimism fades on possible progress in talks between the US and Iran . Brent crude, the international benchmark for oil prices, rose by as much as 3.29% this morning to $107.75 a barrel. Iran announced a peace proposal last week at the UN General Assembly in New York, saying it had been transmitted to the US via Qatari mediators.

Donald Trump said on Saturday he rejected the plan, but told Axios in a phone interview on Sunday that he expected US negotiators to engage in more talks this week Worries around continued conflict in the Middle East – and the impact it can have on global inflation – are growing in the bond market too. US treasury yields are up, with the 10-year up 3 basis points to 5.21%. So too are UK bond yields – the 10-year gilt is up 4 basis points to 5.403% this morning.

We believe that those with most exposure to the south and south east ( Crest Nicholson ) and the more liquid stocks ( Barratt Redrow , Persimmon and Taylor Wimpey ) will outperform, and those with the least exposure to open market homes ( Vistry ) and homes likely to be priced above the Your First Home price cap ( Berkeley ) to underperform on a relative basis. That said, we believe this is the big catalyst the sector as a whole needed for a re-rating, and whilst most of us have 88 sleeps to Christmas, Christmas has come early for the UK housebuilders. Continue reading...