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Inflation surprise sets UK homebuilders for biggest rally since 2008

by Staff GBAF Publications Ltd
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Inflation surprise sets UK homebuilders for biggest rally since 2008

MILAN (Reuters) – Shares in UK property-related stocks rallied on Wednesday as investors cheered data that showed UK inflation slowed faster than expected in June, which sent an index of homebuilder shares up by the most since late 2008.

By 0718 GMT, the FTSE 350 homebuilders index soared almost 7% and was set for its biggest one-day gain since November 2008. A gauge of UK real estate stocks gained over 6%, on course for its best day since February.


(Reporting by Danilo Masoni; Editing by Amanda Cooper)