UK housebuilders rally on report UK PM candidate to cut taxes in no-deal budget

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Reuters
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Credit: REUTERS/Darren Staples

Shares in UK housebuilders jumped on Friday after a report that the leading contender to replace British Prime Minister Theresa May is preparing an emergency budget for a no-deal Brexit, which includes overhaul of stamp duty and aggressive tax cuts.

LONDON, June 28 (Reuters) - Shares in UK housebuilders jumped on Friday after a report that the leading contender to replace British Prime Minister Theresa May is preparing an emergency budget for a no-deal Brexit, which includes overhaul of stamp duty and aggressive tax cuts.

Taylor Wimpey TW.L, Berkeley Group BKGH.L, Persimmon PSN.L and Barratt Developments BDEV.L were all up between 2.1% to 3.3% and were the top performers on the UK blue-chip index FTSE 100 .FTSE.

Boris Johnson's team wants a series of measures to ensure that the economy is "going gangbusters" by Oct. 31, according to The Times.

(Reporting by Thyagaraju Adinarayan; editing by Josephine Mason)

((thyagaraju.adinarayan@tr.com; +44 20 7542 7015; Reuters Messaging: thyagaraju.adinarayan.thomsonreuters.com@reuters.net; Twitter @thyagu))

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