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

Urban Logistics Reit

21/09/2023 12:59

(Updates)
    ** UK homebuilders' index  .FTNMX402020  rises 2.5% to a
near 4-month high
    ** FTSE Real Estate index  .FTUB3510  gains 1.6%, its
highest level since Aug. 11
    ** Shares of UK real estate firms gain after Bank of England
(BoE) halted its long run of interest rate increases to keep
Bank Rate at 5.25%
    ** "The pause in rate hikes is immediately better news for
anyone with a variable rate mortgage, who can finally see their
monthly mortgage payment hold steady for a month" - Sarah Coles,
head of personal finance, Hargreaves Lansdown
    ** 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%
    ** Supermarket Income REIT  SUPR.L  rises 2.7%, top pct
gainer on the real estate index
    ** Land Securities  LAND.L  and British Land  BLND.L  up
2.4% and 2.6%, respectively    
    

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