British homebuilder shares hit seven-month high ahead of spending review
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FILE PHOTO: A general view shows the Barnsbury Estate in the London borough of Islington, Britain September 20, 2015. Photograph taken September 20, 2015. REUTERS/Luke MacGregor/File Photo
LONDON (Reuters) -British homebuilder shares rose sharply on Wednesday, ahead a public spending announcement from the UK finance minister that is expected to confirm 39 billion pounds ($52.54 billion) of funding for affordable homes in the next decade.
An index tracking British homebuilder shares was last up 2.36% at its highest since November, building on Tuesday's 5.4% gain.
Vistry shares rose nearly 9%, and topped the broad European STOXX 600 share index. Peers Crest Nicholson and Bellway rose 5.2% and 2.5%.
($1 = 0.7422 pounds)
(Reporting by Alun John; Editing by Amanda Cooper)
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