Pursuits
Bargain Basement Builders Poised for Election Year Love in U.K.
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With valuations the cheapest in four years and Conservatives and the Labour Party both voicing support for housing before next month’s election, the ground is getting firmer beneath U.K. homebuilders.
A rally for the industry in 2015 hasn’t been enough to lift price-earnings ratios to even half the average for the FTSE 350 Index, data compiled by Bloomberg show. Persimmon Plc and Taylor Wimpey Plc, among the biggest builders by market value, have advanced more than 11 percent this year and still trade below valuations of a year ago. The FTSE 350 fell 0.2 percent at 9:55 a.m. in London.