London shares experienced an uptick on Monday, driven by a rally in homebuilders following the British government’s announcement of an incentive scheme for first-time homebuyers. However, overall gains were moderated by declining metal prices.

The blue-chip FTSE 100 index rose 0.28% to 10,724.86 points by 0941, while the midcap FTSE 250 climbed 0.72%.

• The household goods & home construction index surged 11.2% to a six-month high, after the government confirmed plans to include a loan program in next month’s budget to boost home sales and revive a sector that has struggled in recent years.
• “The UK government’s ​new equity loan scheme could be the catalyst the UK homebuilding sector has been waiting for. While the finer (print) will matter, anything that lowers the deposit barrier for ​first-time buyers should translate into stronger demand”, said Jack Fletcher-Price.
• Barratt Redrow opened new tab jumped 12.9% and led the blue-chip FTSE 100, while Persimmon, Taylor Wimpey, Bellway, and Vistry added between 10% and 15%, boosting the domestically focused FTSE 250.
• Building material suppliers also experienced an uptick. Ibstock gained 22.3% and Marshalls gained 13.8%, respectively.
• Industrial and precious metals declined 2.3% and 6%, respectively, following a decrease in copper and gold prices amid a stronger dollar.
• Miners Glencore, Rio Tinto, and Fresnillo fell between 1.8% and 6.5%, leading declines on the FTSE 100.
• Oil rebounded more than 3% following the US’s rejection of an Iran peace plan, which has intensified inflation concerns and prompted global rate tightening.
• Ladbrokes owner Entain opens new tab slid 2.8% after warning that its 2026 online net gaming revenue growth would take a hit if Brazil’s ban on online sports betting and gaming is upheld for the rest of the year.
• Traders are anticipating remarks from Bank of England Deputy Governor Dave Ramsden later in the day.