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Construction workers beyond a protective fence on an under-construction new build home development in Kent, England, on June 30, 2020,
ben stansall/Agence France-Presse/Getty Images
Shares of leading U.K. home builders gained ground on Tuesday, after a report that a government program to buy new properties will be extended.
Berkeley Group BKG, +4.58%, Barratt Developments BDEV, +3.56%, Persimmon PSN, +2.31% and Taylor Wimpey TW, +2.46% each gained about 3% after the Financial Times reported the Help to Buy Equity Loan program will be extended past December.
The program lets English home buyers put up as little as 5% as a deposit on a new home.
Berkeley Group, for instance, said Help To Buy reservations accounted for a net 290 sales in the year ending April 30, including joint ventures. Including ventures, Berkeley delivered 3,158 homes last year.
On the other end of the leaderboard, Fresnillo FRES, -4.23% shares fell 3.6%, though the Mexican-British silver miner is still up 92% this year. Fresnillo reported a decline in both silver and gold production, though revenue rose, mainly due to higher gold GOLD, -0.98% and silver SI00, -1.96% prices.
The broader FTSE 100 UKX, +0.00% was steady, while the pound GBPUSD, +0.35% inched up to $1.2891 from $1.2880.
