UK homebuilders mixed as RBC shakes up ratings

Barratt Redrow

02/12/2025 09:22

** Shares of British homebuilder Taylor Wimpey TW.L rise 1.9%, Persimmon PSN.L gains 1.6% after RBC upgrades both to "outperform" from "sector perform"

** RBC expects TW to benefit from strategic landbank as Planning and Infrastructure Bill nears Royal Assent, boosting planning approvals

**  Brokerage upgrades PSN on expectations of opening more sites than peers, driving higher sales volumes

** Barratt Redrow BTRW.L falls about 0.4% after RBC downgrade to "sector perform" from "outperform", citing Redrow integration challenges, absent CFO

** Berkeley Group BKGH.L drops 0.2% on cut to "underperform" from "outperform" over mansion tax, rental income tax impact

** UK house prices rose slightly more than expected in Nov, defying budget concerns - Nationwide

** YTD, as of last close, PSN up 11% vs TW slumps 17%, BTRW down 12%, BKG declines 5%

 (Reporting by Tuhina in Bengaluru)

 ((Tuhina@thomsonreuters.com))