UK homebuilders, property stocks gain as BoE halts long run of rate hikes
21/09/2023 12:12
** The FTSE Real Estate index .FTUB3510 , which includes
commercial property firms and real estate investment trusts
(REITs), gains 1.6%
** UK homebuilders' index .FTNMX402020 rises 2.5%
** Shares of UK real estate firms gain after Bank of England
(BoE) halted its long run of interest rate increases on Thursday
as the British economy slowed
** BoE's Monetary Policy Committee voted by a narrow margin
of 5-4 to keep Bank Rate at 5.25%
** However, BoE said it was not taking a recent fall in
inflation for granted
** FTSE 100 .FTSE homebuilders Barratt BDEV.L and Taylor
Wimpey TW.L gain 2.7% and 2.3%, respectively
** High-end builder Berkeley BKGH.L up 2.9% and mid-cap
firm Bellway BWY.L gains 2.6%
** Supermarket Income REIT SUPR.L , a firm which invests in
retail property and holds a large portfolio of supermarkets,
rises 2.7%, making it top pct gainer on the real estate index
** Land Securities LAND.L and British Land BLND.L up
2.4% and 2.6%, respectively
** Student housing firm Unite UTG.L gains about 2%
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))