European shares rise as UK homebuilders rally on buyer support scheme
European shares edged higher on Monday, supported by a rally in British housebuilders, though gains were capped by a rebound in oil prices and elevated bond yields. The pan-European STOXX 600 rose 0.3% to 640.43 points by 0725 GMT. British housebuilders surged after the government said it would confirm a new equity loan programme for first-time buyers in next month's budget, reviving a policy to boost home ownership. Shares of Persimmon, Barratt Redrow, Taylor Wimpey, and Vistry rose between 13% and 17%. Broader gains were restrained by a more than 3% jump in Brent crude prices after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. Investors also awaited speeches from ECB President Christine Lagarde and Bank of England Deputy Governor Dave Ramsden.