Housebuilders’ share prices recover ahead of Hunt’s emergency statement

By Joey Gardiner2022-10-17T09:32:00

Source: Shutterstock

Bond markets settle amid expectations new chancellor will ditch much of his predecessor’s mini budget

Share prices in major housebuilders rose this morning in advance of a statement by the new chancellor Jeremy Hunt in which he is expected to row back on many of the measures set out in his predecessor’s mini budget less than a month ago.

The UK’s biggest housebuilder Barratt led the rises, with its share price up 2.54% in early trading amid signs of the bond markets settling under the new chancellorship. The firm, alongside others in the sector, has now seen its value recover by more than 7% from lows in the middle of last week, after which point investors started predicting a government reversal was on the cards.

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