Housebuilders' shares rise on election news

Hamish Champ

Listed firms see stock price increase as country gears up for general election

Investors in listed housebuilders have warmed to Theresa May’s general election call, with shares in several companies posting sizeable gains.

On top of increases posted yesterday in the immediate aftermath of the prime minister’s announcement, the likes of Taylor Wimpey, Berkeley Group, Bellway and Barratt have all seen their stock rise in morning trading.

Berkeley posted the biggest percentage increase in trading at the time of writing today, up 2.8% (90p) to 3,298p. Bellway shares rose 2.4% (65p; 2,831p), with Taylor Wimpey up 1.76% (3.5p; 202.1p), Persimmon up 1.65% (37p; 2,279p) and Barratt up 1.64% (9.5; 589.5p).

The market clearly thinks the election of a Conservative government on 8 June – and possibly with a much-increased majority, if opinion polls are to be believed – will be good news for the house building sector.

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