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Oct. 7, 2020, 9:58 a.m. EDT

Homebuilder stocks rise in London after mortgage applications soar

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By Barbara Kollmeyer

The stocks of several London home builders were getting a boost on Wednesday after lender Halifax reported a 7.3% rise in annual house prices and a 12-year high for mortgage applications.

A string of names were trading at higher prices — Taylor Wimpey jumped 3% and Barratt Development rose 0.6%, while among the smaller names, Crest Nicholson /zigman2/quotes/207992108/delayed UK:CRST +1.54% gained 1.8%, Bellway /zigman2/quotes/208360300/delayed UK:BWY -0.85% added 1.7% and Redrow /zigman2/quotes/206663416/delayed UK:RDW +0.21% jumped 2%.

Elsewhere though, Persimmon /zigman2/quotes/206444744/delayed UK:PSN -0.29% and Land Securities Group /zigman2/quotes/207145631/delayed UK:LAND -1.59% were both down by 1% or more.

Russell Galley, managing director of Halifax , cautioned though that context was important, as a year ago the housing market was suffering from political uncertainty about the U.K. election and Brexit. House prices have also been getting a lift from more people working from home who need to buy more space, along with a stamp duty holiday.

“The release of pent up demand and indeed the stamp duty holiday can only be temporary fillips and their impact will inevitably start to wane,” said Galley.

Elsewhere on the London stock market, shares of grocer Tesco /zigman2/quotes/203761082/delayed UK:TSCO +0.09% slipped into the red after results showed a rise in first-half profit , but higher COVID-19 related costs.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +0.52% was trading flat at 5,955.41, with the index up 0.9% for the week.

Across smaller AIM-listed companies, shares of 4D Pharma /zigman2/quotes/204116301/delayed UK:DDDD -1.03% tumbled 32%. The company reported positive results from a trial of its irritable bowel syndrome treatment that can treat both IBS with constipation or diarrhea. Shares shot higher at the open before selling off.

/zigman2/quotes/207992108/delayed
UK : U.K.: London
408.60 p
+6.20 +1.54%
Volume: 539,793
April 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.03 billion
Rev. per Employee
£1.03M
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/zigman2/quotes/208360300/delayed
UK : U.K.: London
3,599.00 p
-31.00 -0.85%
Volume: 163,923
April 21, 2021 4:35p
P/E Ratio
24.35
Dividend Yield
2.36%
Market Cap
£4.47 billion
Rev. per Employee
£770,301
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/zigman2/quotes/206663416/delayed
UK : U.K.: London
659.60 p
+1.40 +0.21%
Volume: 1.14M
April 21, 2021 4:35p
P/E Ratio
18.01
Dividend Yield
0.91%
Market Cap
£2.26 billion
Rev. per Employee
£559,783
loading...
/zigman2/quotes/206444744/delayed
UK : U.K.: London
3,130.00 p
-9.00 -0.29%
Volume: 440,415
April 21, 2021 4:35p
P/E Ratio
15.68
Dividend Yield
7.51%
Market Cap
£10.01 billion
Rev. per Employee
£637,483
loading...
/zigman2/quotes/207145631/delayed
UK : U.K.: London
703.60 p
-11.40 -1.59%
Volume: 1.48M
April 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.56%
Market Cap
£5.22 billion
Rev. per Employee
£1.40M
loading...
/zigman2/quotes/203761082/delayed
UK : U.K.: London
227.20 p
+0.20 +0.09%
Volume: 13.94M
April 21, 2021 4:35p
P/E Ratio
19.89
Dividend Yield
4.03%
Market Cap
£17.42 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,895.29
+35.42 +0.52%
Volume: 635,903
April 21, 2021 4:59p
loading...
/zigman2/quotes/204116301/delayed
UK : U.K.: London
115.80 p
-1.20 -1.03%
Volume: 1.26M
April 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£209.41 million
Rev. per Employee
N/A
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