UK homebuilders gain as Labour storms to massive election win
** Shares of UK housebuilders .FTNMX402020 jump 1.4% after Labour Party surged to a comprehensive win in the British parliamentary election on Friday, ending 14 years of often tumultuous Conservative government
** Investec analysts say they expect new government to restore mandatory housing targets, potentially ease the planning system and increase the provision of social and affordable housing
** "We expect a near-term focus on easing the planning system which, together with the expected UK interest rate cuts, should support the sector" - Investec
** Housing was a key part of the Labour manifesto with an explicit target of building 1.5 mln new homes over the next five years
** JP Morgan analysts see Persimmon PSN.L, Taylor Wimpey TW.L and Vistry VTYV.L as key beneficiaries of increased focus on boosting affordable homes and a reform to planning
** FTSE 100 .FTSE homebuilders Vistry, Persimmon, and Taylor Wimpey gain between 1% and 2%
** Midcap player Crest Nicholson CRST.L top pct gainer in the sector index, rising more than 2.13%
Reporting by Aby Jose Koilparambil in Bengaluru
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