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2026-09-28T08:55:01.908Z

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European stocks rise on British construction shares

European stocks rise on British construction shares

European stocks rose today, Monday, mainly supported by gains in UK homebuilder shares following the government's announcement of a new mortgage plan for first-time buyers, which boosts the homeownership sector and supports construction. The Eurostoxx 600 index increased by 0.3% to 640.43 points, with most markets in the region trading higher. However, gains remained limited due to rising oil prices, as Brent crude jumped over 3%, and Middle East tensions which unsettled the market after the U.S. President refused to reopen the Strait of Hormuz with Iran. European markets also saw moves in energy company shares, while mining stocks fell by 2% amid declining metal prices, amidst expectations of further monetary tightening from the European Central Bank and the Bank of England to combat inflation.

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