London’s FTSE 250 was 1.5% higher at 21,216.86 in afternoon trade on Monday.
Housebuilders Bellway and Crest Nicholson were among the top performers on news of a new mortgage guarantee scheme that would see a return of 95% of mortgages.
Reports over the weekend suggested that Chancellor Rishi Sunak will unveil in his budget this week a mortgage guarantee scheme to help first-time buyers. As part of the scheme, the government will offer incentives to lenders which would mean that people would be able to buy properties worth up to £600,000 with a deposit of just 5%.
Cruise operator Carnival was also on the rise after an initiation at ‘buy’ at Peel Hunt. It was also benefiting from more general optimism that travel will pick up this summer as Covid-19 vaccines are rolled out.
Jupiter Fund Management was the worst performer on the index, having rallied at the end of last week on the back of its full-year results.
FTSE 250 – Risers
Bellway (BWY) 2,986.00p 6.34%
Hammerson (HMSO) 27.66p 5.90%
Crest Nicholson Holdings (CRST) 339.60p 5.73%
Carnival (CCL) 1,665.00p 5.68%
Capita (CPI) 47.75p 5.55%
SSP Group (SSPG) 362.40p 5.23%
IWG (IWG) 378.00p 5.00%
Capital & Counties Properties (CAPC) 177.80p 4.77%
Investec (INVP) 204.90p 4.67%
Baillie Gifford US Growth Trust (USA) 339.00p 4.63%
FTSE 250 – Fallers
Jupiter Fund Management (JUP) 285.00p -3.52%
Watches of Switzerland Group (WOSG) 619.00p -2.98%
Rank Group (RNK) 172.00p -2.93%
Plus500 Ltd (DI) (PLUS) 1,328.00p -2.85%
Petropavlovsk (POG) 26.70p -2.55%
Sanne Group (SNN) 573.00p -2.55%
IMI (IMI) 1,286.00p -1.76%
Future (FUTR) 1,918.00p -1.64%
Big Yellow Group (BYG) 1,117.00p -1.59%
LXI Reit (LXI) 125.00p -1.57%