UK homebuilders, property stocks gain as BoE halts long run of rate hikes

LXi REIT

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))