European stocks rise as UK housebuilders jump on equity loan
Business
European stocks nudged up 0.3% on Monday, mainly thanks to a surge in British housebuilder shares.
The UK government said it would confirm a new equity loan program for first-time buyers in next month's budget, which sent companies like Persimmon, Barratt Redrow, Taylor Wimpey and Vistry soaring 13% to 17%.
Energy stocks climb after oil spike
Energy stocks climbed as oil prices spiked over 3% due to tensions in the Strait of Hormuz, but mining shares dropped about 2% with metals taking a hit from a stronger US dollar.
Investors are now watching for updates from top central bank leaders on what's next for inflation and interest rates.
Meanwhile, Akzo Nobel got a small boost after JPMorgan reinstated coverage of the company with an "overweight" rating.