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Housebuilders shoot up on relief over mortgage rates prospects
Evening Standard
|July 19, 2023
BARGAIN-HUNTING investors gave the housebuilding sector its best session in more than a decade today as a buying frenzy buoyed London shares.
Relief over the outlook for mortgage rates following inflation’s big downside surprise meant heavily sold Persimmon shares rebounded 5% or 57.5p to 1149.5p and Barratt Developments surged by 21.4p to 445.7p.
Redrow and Crest Nicholson jumped by 6% in the FTSE 250 index as investors made sure not to be on the wrong side of a potential turning point in the sector.
Other interest rate-sensitive sectors such as property and utilities were also swamped with buyers, particularly logistics and warehousing business Segro
Dit verhaal komt uit de July 19, 2023-editie van Evening Standard.
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