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Housebuilders support FTSE 100 after Berkeley earnings

Published 06/19/2019, 03:37 PM
Updated 06/19/2019, 03:40 PM
Housebuilders support FTSE 100 after Berkeley earnings
UK100
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BDEV
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PSN
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TW
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BKGH
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VMUK
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up marginally, FTSE 250 up 0.1%
* Berkeley jumps after revenue beat
* Saga at life low after poor trading update
* Fed policy statement awaited

June 19 (Reuters) - London's main bourse inched higher on
Wednesday, helped by better than expected numbers from
housebuilder Berkeley and a surge in Clydesdale and Yorkshire
Banking Group CYBGC.L after it promised more savings from its
buyout of Virgin Money.
The FTSE 100 index .FTSE , sharply higher on Tuesday along
with other European markets on the back of a strong policy
speech from European Central Bank chief Mario Draghi, edged
0.05% higher by 0707 GMT.
The midcap FTSE 250 was up 0.1%.
Housebuilder Berkeley BKGH.L leapt 6%, outperforming other
blue-chips, after its fall in annual earnings fell well short of
the worst of market expectations. That lifted rivals Taylor
Wimpey TW.L , Persimmon PSN.L and Barratt BDEV.L by as much
as 2%.
The biggest boost to the main index, however, came from oil
majors and Asia-focussed financials on renewed hopes of a
resolution to a long and painful U.S.-China trade war.
All eyes are now on the conclusion of the U.S. Federal
Reserve's two-day meeting after markets close.

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