The FTSE 100 Index Opens 0.26% Higher

The FTSE 100 traded higher on Monday, following a modest gain in the previous session, as UK homebuilders surged on expectations surrounding the revival of the Help to Buy scheme. Barratt Redrow jumped nearly 15%, Howden Joinery added 5.1%, and Kingfisher rose 4.2%. Chancellor John Healey is due to address the Labour Party conference ahead of next month’s budget, with the proposed Help to Buy revival offering loan guarantees to support first-time buyers purchasing new-build homes. Market sentiment was tempered, however, after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that supported markets late last week. Oil prices rose, lifting Shell and BP by around 1% each. Mining stocks fell broadly, with Fresnillo, Endeavour, Antofagasta, Anglo American, Glencore and Rio Tinto down between 1.8% and 5.5%. Entain fell more than 2% despite maintaining its guidance.

The FTSE 100 Index is picking up 28 points or 0.26 percent on Monday. Gains are led by Persimmon (15.89%), Barratt Redrow (14.83%) and Howden Joinery (5.27%). Biggest losers are Fresnillo (-5.00%), Endeavour (-4.42%) and Antofagasta (-3.45%).

The FTSE 100 Index gained 15 points or 0.14 percent on Friday to close at 10695 points. Gains were led by Computacenter (3.72%), Standard Chartered (2.33%) and Smiths (2.03%). Biggest losers were BP (-2.22%), Bunzl (-1.86%) and Imperial Brands (-1.64%).