LIVE MARKETS-STOXX up, no Xmas cheer for UK homebuilders
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STOXX UP, NO XMAS CHEER FOR UK HOMEBUILDERS
Holiday-thinned trading made for an uneventful start across European shares on Tuesday, with many traders away ahead of the Christmas break and several markets in the region shut.
The region-wide STOXX 600 .STOXX index rose 0.2%, taking strength by gains in Asia and Wall Street. London's FTSE 100 .FTSE gained 0.3% and the CAC 40 .FCHI in Paris was up 0.4%.
There was no Christmas cheer for Vistry VTYV.L, whose shares plummeted nearly 20% at one point, after the British homebuilder launched its third annual profit warning.
Other homemakers such as Persimmon PSN.L were also mostly lower, capping a bad year for the sector, marred by subdued demand and more recently by concerns over the pace of rate cuts.
UK housebuilders .FTNMX402020 are down 18% YTD, against a 5% surge for the broader FTSE 350 .FTLC index.
Here is Tuesday's opening snapshot:
(Danilo Masoni)
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