UK homebuilders gain as cooling labour market boosts rate cut hopes
** Shares of UK housebuilders .FTNMX402020 rise 1.3% after Britain's labour market showed more signs of cooling in April as the unemployment rate rose
** Official data showed the jobless rate for the three months to April rose to 4.4% from 4.3% between January and March, the highest reading since the three months to September 2021
** "An interest rate cut in August is still a very real possibility, especially with other data coming through over the past week indicating that price pressures in the services sector are cooling" - Susannah Streeter, head of money and markets at Hargreaves Lansdown
** "The data may have helped give an extra boost to housebuilders in early trade, but pledges on the general election campaign to offer help to first-time buyers are also likely to have added to positive sentiment" - Streeter
** FTSE 100 .FTSE homebuilders Persimmon PSN.L, Barratt BDEV.L and Taylor Wimpey TW.L gain between 1.2% and 1.5%
** Midcap player Crest Nicholson CRST.L top pct gainer in the sector index, rising 2.7%
Reporting by Aby Jose Koilparambil in Bengaluru
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