UK homebuilders, property stocks fall as inflation boost hurts rate cut hopes

Balanced Commercial Property Trust

17/01/2024 08:38

** UK homebuilders' index  .FTNMX402020  and FTSE Real
Estate index  .FTUB3510 , which includes commercial property
firms and real estate investment trusts (REITs), decline 2.2%
each
    ** Shares of UK real estate firms fall after Britain's
annual rate of consumer price inflation surprisingly rose for
the first time in 10 months in December, pushing investors to
trim rate cut expectations 
    ** Midcap players Persimmon  PSN.L  and Crest Nicholson
 CRST.L  top pct loser on housing sector index
    ** FTSE 100 housebuilders Barratt  BDEV.L  and Taylor Wimpey
 TW.L  slip 2.2% and 2%, respectively
    ** FTSE 100 commercial property firm Land Securities
 LAND.L  among top pct losers on Real Estate index, down 2.3%
    ** Derwent London  DLN.L , down 4.7%, top pct loser on Real
Estate index
    ** All 28 constituents, which are currently trading on Real
Estate index, decline

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))