UK shares rise on homebuilder rally; metals cap gains

London shares rose Monday as homebuilders rallied following a UK government incentive scheme for first-time buyers, though weaker metal prices limited gains. The FTSE 100 gained 0.28% to 10,724.86 points, while the FTSE 250 climbed 0.72%. The household goods and home construction index surged 11.2% to a six-month high after the government confirmed plans for a loan programme in next month's budget. Barratt Redrow jumped 12.9%, while Persimmon, Taylor Wimpey, Bellway and Vistry added 10% to 15%. Building material suppliers Ibstock and Marshalls also rose sharply. Industrial and precious metals fell 2.3% and 6% respectively as copper and gold prices dropped against a stronger dollar, with miners Glencore, Rio Tinto and Fresnillo declining. Oil rebounded over 3% after the US rejected an Iran peace plan, while Entain slid 2.8% on Brazil betting ban concerns.