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UK's Bellway rises; First Home scheme a bright spot amid sluggish markets

By Reuters News09:26 (UTC), 13 October 2026 Updated

** Shares of British homebuilder Bellway BWY.L up 2.3% at 2,030p

** CEO Jason Honeyman says UK's 'Your First Home' scheme has potential to boost volumes by around 10% on a conference call

** Peel Hunt analysts say scheme has potential to provide material support for first-time buyers

** Co forecast lower FY2027 housing completions of 9,000 to 9,400 homes, but midpoint comes ahead of JPMorgan's estimate of 9,191 units

** Co, however, flags FY27 underlying operating margin to fall further on lower completions, higher mortgage rates and cost pressures amid Middle East conflict

** Including session gains, stock down 26% YTD

($1 = 0.7557 pounds)

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