UK homebuilders and miners back FTSE

UK homebuilders and miners back FTSE

On Wednesday, European stocks went down in early deals, suppressed by healthcare as well as utilities stocks, although positive results from a British housebuilder as well as support from mining companies helped to limit losses.

The pan-European STOXX 600 index decreased 0.3%, extending losses from last session. Meanwhile, blue chips decreased 0.3%.

British housebuilder Persimmon happened to be the biggest STOXX gainer, leaping approximately 3.4% following a positive trading statement, in which it posted a 7% soar in first-half sales with the market generally immune to Britain’s June general election.

Shares in peer Barratt Developments gained up to 2.4%, while The UK’s blue chip FTSE 100 that managed to outperform the broader European market, soared 0.1%.

Revenues among mining companies, including Glencore that leapt 2.6% also helped to back British shares.

Healthcare shares dived, suppressed by GlaxoSmithKline that sank after a downgrade from Citigroup from buy to neutral.

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