FTSE 250 movers: Housebuilders soar; Bodycote, miners slide

Shares in UK housebuilders took off after the ruling Labour government said it was launching a new version of the much-criticised "Help to Buy" scheme. Persimmon, Bellway and Vistry all surged on the news.

Prime Minister Andy Burnham on Saturday said the new Your First Home scheme would give first-time buyers who paid a 2.5% deposit with a 20% equity loan to buy a new-build property with an initial interest-free period, the government added.

Help to Buy faced sustained criticism for inflating new-build prices and boosting developer profits. Analysts said the scheme offered limited help to lower-income buyers and failed to improve overall housing affordability.

The National Audit Office warned the scheme created significant deadweight, with many recipients able to buy without state support. Economists said billions were tied up in loans that delivered poor long-term value for taxpayers.

The Institute for Fiscal Studies found higher earners benefited most from Help to Buy, undermining its purpose as an affordability measure. Price caps and regional variations meant the scheme had muted impact in high-cost areas.

Persimmon, Bellway, Taylor Wimpey and Vistry all jumped on the news, while associated industry stocks Genuit and Travis Perkins also gained.

On the downside, miners and precious meals miners fell in tandem with gold and copper prices, with Fresnillo, Antofagasta, Anglo American, Glencore and Hochschild all weaker.

Bodycote fell as CVC said it was not planning to make another offer for the company, which agreed earlier this month to be bought by US private equity firm Veritas Capital in a £1.65bn deal.

Market Movers

Persimmon (PSN) 1,331.00p 15.03%
Genuit Group (GEN) 303.80p 14.22%
Bellway (BWY) 2,326.00p 12.38%
Taylor Wimpey (TW.) 89.54p 11.24%
Vistry Group (VTY) 285.60p 10.04%
Breedon Group (BREE) 336.00p 9.27%
Travis Perkins (TPK) 632.00p 5.60%
Bridgepoint Group (Reg S) (BPT) 316.40p 5.53%
CVS Group (CVSG) 1,265.00p 4.80%
Keller Group (KLR) 3,458.00p 4.78%

FTSE 250 - Fallers

Hochschild Mining (HOC) 530.50p -6.84%
Raspberry PI Holdings (RPI) 676.25p -5.38%
Pan African Resources (PAF) 116.80p -5.27%
Endeavour Mining (EDV) 4,319.00p -4.66%
Ceres Power Holdings (CWR) 400.40p -4.07%
Entain (ENT) 431.60p -3.96%
Trustpilot Group (TRST) 206.00p -3.28%
Bodycote (BOY) 917.00p -3.06%
BlackRock World Mining Trust (BRWM) 956.00p -2.55%
Pacific Horizon Inv Trust (PHI) 1,118.00p -2.44%