UK homebuilders gain after government unveils first-time buyer incentive

By Reuters News

** British homebuilders index .FTNMX402020 surges 13% after the British government on Saturday said its new equity loan scheme called "Your First Home" would be confirmed in next month's budget

** The policy is aimed at injecting growth into the economy by assisting first-time home buyers to increase demand for house construction

** Persimmon PSN.L and Barratt Redrow BTRW.L rise 16% and 14%, respectively and are top gainers on FTSE 100 .FTSE index

** Vistry VTYV.L, Taylor Wimpey TW.L, and Bellway BWY.L up between 14% to 15%, top gainers on FTSE mid-caps .FTMC index

** MJ Gleeson GLEG.L and Crest Nicholson CRST.L up 20% and 16%, respectively

** Sub-index .FTNMX402020 down ~16% YTD

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