# Inflation surprise sets UK homebuilders for biggest rally since 2008
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2023-07-19
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: UK Homebuilders Soar After Inflation Data Shows Biggest Rally Since 2008
Meta Description: Investors optimistic as UK inflation slows, sending property stocks soaring. Homebuilders index up 7%, real estate stocks gain over 6%.
URL: https://startupobserver.com/inflation-surprise-sets-uk-homebuilders-for-biggest-rally-since-2008/

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MILAN (Reuters) – Shares in UK property-related stocks rallied on Wednesday as investors cheered data that showed UK inflation slowed faster than expected in June, which sent an index of homebuilder shares up by the most since late 2008.

By 0718 GMT, the FTSE 350 homebuilders index soared almost 7% and was set for its biggest one-day gain since November 2008. A gauge of UK real estate stocks gained over 6%, on course for its best day since February.

(Reporting by Danilo Masoni; Editing by Amanda Cooper)


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