Energy, homebuilders boost UK's FTSE 100 ahead of budget update

March 25 (Reuters) - The UK's FTSE 100 rose on Tuesday, with homebuilder and energy stocks leading the charge, while investors awaited a slew of economic data and a budget update due later in the week.

The blue-chip FTSE 100 .FTSE was up 0.6%, while the midcap FTSE 250 index .FTMC also rose 0.6% at 1037 GMT.

An index of UK housebuilders .FTNMX402020 rose 1.9% after Britain's government pledged 2 billion pounds ($2.58 billion) to build up to 18,000 social and affordable homes in England.

Homebuilders Barratt Redrow BTRW.L, Persimmon PSN.L and Taylor Wimpey TW.L gained between 1% and 1.3%.

Bellway BWY.L gained 2.4% after the company reported a 12% rise in half-year profit as the lower mortgage rates and improved consumer confidence drove sales.

Kingfisher KGF.L fell 12.3%, to the bottom of the blue-chip index after the home improvement retailer reported a 7% fall in annual profit.

Energy stocks .FTNMX601010 jumped 1.7% as oil prices rose for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude.

Shell SHEL.L was among the top gainers on the FTSE 100 after the world's biggest liquefied natural gas trader increased its shareholder distribution policy and lowered its spending outlook.

Investors will be closely watching UK inflation and the Personal Consumption Expenditure (PCE) data, the U.S. Federal Reserve's preferred inflation gauge, with both sets of numbers due later in the week.

British Finance Minister Rachel Reeves will publish a forecast from the Office for Budget Responsibility on Wednesday, which is expected to roughly halve Britain's projected growth in 2025 from 2% to about 1%, according to the Financial Times.

Markets remain focused on potential reciprocal tariffs promised by U.S. President Donald Trump and their impact on the global economy.

Among other stocks, Segro SGRO.L gained 3.4% after the warehouse developer announced a joint venture with Pure Data Centres Group to develop a data centre worth about 1 billion pounds.

($1 = 0.77 pounds)

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