UK shares edge up on homebuilder rally; metals weigh
EWU•The FTSE 100 rose 0.28% to 10,724.86 points and the FTSE 250 gained 0.72% as homebuilders rallied after the government confirmed plans for a first-time buyer loan programme. Metals shares fell as copper and gold prices declined.
1. Homebuilders surge
The household goods and home construction index rose 11.2% to a six-month high after the government confirmed plans to include a loan programme in next month’s budget to boost home sales. Barratt Redrow gained 12.9%, while Persimmon, Taylor Wimpey, Bellway and Vistry added between 10% and 15%; building material suppliers Ibstock and Marshalls rose 22.3% and 13.8%, respectively.
2. Metals and other movers
Industrial metals and precious metals shares fell 2.3% and 6%, respectively, as copper and gold prices declined against a stronger dollar. Glencore, Rio Tinto and Fresnillo fell between 1.8% and 6.5%. Oil rebounded more than 3% after the United States rejected an Iran peace plan, while Entain fell 2.8% after warning that its 2026 online net gaming revenue growth would be hit if Brazil’s ban on online sports betting and gaming remains in force for the rest of the year.
