UK property, housing stocks gain as Bank of England cut rates

Supermarket Income REIT

01/08/2024 12:18

** The FTSE Real Estate index  .FTUB3510 , which includes
commercial property firms and real estate investment trusts
(REITs), gains 1.7%
    ** UK homebuilders' index  .FTNMX402020  rises 1.2%
    ** Shares of UK real estate firms gain after the Bank of
England cut interest rates from a 16-year high following a
narrow vote in favour from policymakers divided over whether
inflation pressures had eased sufficiently
    ** Top landlord Landsec  LAND.L  and warehousing specialist
Segro  SGRO.L  rise more than 2% each
    ** FTSE 100 homebuilder Barratt  BDEV.L  and midcap player
Redrow  RDW.L  top pct. gainers on the homebuilders' index,
putting on 1.2% and 1.6%, respectively
    ** Housebuilders' index hovering at highest level since
February 2022

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