European shares gain, led by housebuilders, mining companies

  • 2/5/2023
  • 16:11
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LONDON, Dhu-AlQa'dah 20, 1437, Aug 23, 2016, SPA -- European shares advanced on Tuesday, with housebuilders leading the market higher and mining companies rebounding from their declines the day before, Reuters reported. Britain's second-largest housebuilder, Persimmon, rose 4.2 percent after reporting its reservation rate had risen an annual 17 percent since the start of July. Some builders have warned Britain's vote in June to leave the European Union could slow the property market. "The group's interims have run out better than we anticipated," Shore Capital analyst Robin Hardy said. "The statement is bullish and confident and again seeks to ... push the message that the Brexit result is set to have little or no impact on the new homes market." Persimmon's peers Taylor Wimpey, Barratt Developments and Bellway rose 4 to 6.1 percent. The European basic resources index rose 2.6 percent, the biggest gain by a sector. BHP Billiton, Glencore and Anglo American rose 3 to 4.9 percent. The pan-European STOXX 600 ended up 0.9 percent. Germany's DAX rose 0.9 percent and France's CAC gained 0.7 percent, helped by upbeat surveys of economic activity. --SPA 19:59 LOCAL TIME 16:59 GMT www.spa.gov.sa/w

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