UK shares mixed as pressure from miners, yields offsets homebuilder rally
EWU•The FTSE 100 fell 0.10% to 10,684.88, while the FTSE 250 rose 0.31% as weaker metal prices and rising yields weighed on shares and a planned first-time homebuyer loan scheme lifted homebuilders.
1. Indexes diverge
London's FTSE 100 closed 0.10% lower at 10,684.88 on Monday, while the FTSE 250 gained 0.31%. Precious metals shares fell 4.9% and industrial miners dropped 1.2% as gold and copper prices declined.
2. Homebuilders rally
The household goods and home construction index surged 10% to a six-month high after the government confirmed plans for a loan programme to boost home sales in next month's budget. Barratt Redrow jumped 11.7%, while Persimmon, Taylor Wimpey and Bellway rose between 10% and 15%.
3. Yields and company moves
Oil prices climbed more than 3% after the United States rejected an Iran peace plan, and the yield on Britain's 10-year government bond rose to its highest since July 2007. Entain fell 5% after warning that Brazil's ban on online sports betting and gaming would hurt its 2026 online gaming revenue growth.
