FTSE 250 movers: Homebuilders jump as investors pile into domestic-focused stocks

Shares of homebuilders and lenders barreled higher, pushing the second-tier index back towards its best levels of the year, after European Union council president, Donald Tusk, said he had received "promising signals" from Irish Prime Minister, Leo Varadkar, on the possibility of Brexit deal.

"Deals are in vogue on both sides of the Atlantic it seems, as the UK and EU attempt to build on yesterday’s Varadkar/Johnson summit, and Trump prepares to meet the Chinese vice premier to hammer out an agreement," said IG's Chris Beauchamp.

"Despite indications that there is a) still a long way to go before any deal is passed, and b) that it might not be completed before 31st October and c) it still faces tough hurdles in Parliament, markets have enthusiastically engaged."

As of 1535 BST, the domestic UK focused FTSE 250 was jumping 3.41% to 19,891.08.

In a further boost for sentiment, especially financials, the yield on 10-year Gilts was snapping higher by 12 basis points to 0.71% and that on two-year Gilts by two basis points to 0.56%.

That was despite remarks from Prime Minister, Boris Johnson - echoing some political commentators - cautioning that there was still a "way to go".

To take note of, the lion's share of the advance in yields was attributable to the improved risk sentiment in financial markets around the world at the end of the week on hopes for at least a US-China trade truce.

At the top of the leaderboard were shares of CYBG, Grafton Group, Travis Perkins, Polypipe and Galliford Try.

A motley assortment of investment trusts focused mainly on Asia and emerging markets on the other hand were in the red.

Market Movers

FTSE 250 (MCX) 19,890.99 3.41%

FTSE 250 - Risers

CYBG (CYBG) 126.40p 13.41%
Grafton Group Units (GFTU) 817.50p 13.07%
Travis Perkins (TPK) 1,383.00p 12.58%
OneSavings Bank (OSB) 369.40p 11.40%
Marks & Spencer Group (MKS) 185.30p 11.19%
Galliford Try (GFRD) 698.50p 10.96%
Go-Ahead Group (GOG) 2,132.00p 10.93%
Bovis Homes Group (BVS) 1,179.00p 10.91%
Countryside Properties (CSP) 341.40p 10.49%
Polypipe Group (PLP) 430.00p 10.48%

FTSE 250 - Fallers

Inmarsat (ISAT) 565.80p -2.88%
Man Group (EMG) 158.65p -2.16%
Finablr (FIN) 147.40p -1.60%
Pershing Square Holdings Ltd NPV (PSH) 1,502.00p -1.57%
JPMorgan Indian Investment Trust (JII) 718.00p -1.10%
Baillie Gifford Japan Trust (BGFD) 808.00p -0.98%
Fidelity China Special Situations (FCSS) 210.50p -0.94%
JPMorgan Emerging Markets Inv Trust (JMG) 978.00p -0.81%
Schroder Asia Pacific Fund (SDP) 430.00p -0.81%
Ferrexpo (FXPO) 147.15p -0.71%