UK's Bellway rises; First Home scheme a bright spot amid sluggish markets
13/10/2026 10:26
BUZZ-UK's Bellway rises; First Home scheme a bright spot amid sluggish markets ** Shares of British homebuilder Bellway BWY.L up 2.3% at 2,030p
** CEO Jason Honeyman says UK's 'Your First Home' scheme has potential to boost volumes by around 10% on a conference call
** Peel Hunt analysts say scheme has potential to provide material support for first-time buyers
** Co forecast lower FY2027 housing completions of 9,000 to 9,400 homes, but midpoint comes ahead of JPMorgan's estimate of 9,191 units
** Co, however, flags FY27 underlying operating margin to fall further on lower completions, higher mortgage rates and cost pressures amid Middle East conflict
** Including session gains, stock down 26% YTD
($1 = 0.7557 pounds)
(Reporting by Anushka Chourasia in Bengaluru)