European Markets Rise on UK Housing Plan; Portugal Bond Yields Top 4%

European markets rose Monday, boosted by a new UK housing support program, while Portuguese 10-year bond yields climbed above 4% for the first time since 2017, amid rising oil prices and inflation concerns. The UK's "Your First Home" initiative, offering a 20% state loan with a 2.5% minimum deposit, lifted British homebuilders like Taylor Wimpey and Persimmon by over 10%. Elsewhere, the Euribor rate fell slightly across all terms, with the 6-month rate at 3.066%. Oil prices surged over 2% after the US rejected Iran's plan to reopen the Strait of Hormuz, pressuring Asian markets and gold, which fell 3%.