UK real estate stocks hold onto gains as BoE keeps rates steady

Urban Logistics Reit

02/11/2023 12:17

** UK homebuilders' index  .FTNMX402020  up 3.4% and FTSE
Real Estate index  .FTUB3510  gains 6.2%
    ** Shares of UK real estate firms hold onto sharp gains
after Bank of England keeps rates steady at a 15-year high of
5.25% as expected 
    ** A pause in rate hikes filters down to a halt in potential
rise of mortgage rates, fuelling demand for homes, while the BoE
decision bolsters investment market opportunities for commercial
property firms
    ** FTSE 100  .FTSE  homebuilders Barratt  BDEV.L , Taylor
Wimpey  TW.L  and Berkeley  BKGH.L  gain between 2% and 3%
    ** Midcap housebuilders Vistry  VTYV.L , Redrow  RDW.L  and
Crest Nicholson  CRST.L  gain over 4% each
    ** Tritax EuroBox  EBOX.L , which invests in distribution
centres, jumps 10%, top pct gainer on real estate index
    ** Land Securities  LAND.L  and British Land  BLND.L  up
5.7% and 7.4%, respectively

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