Taylor Wimpey is leading the listed housebuilding sector higher today, extending gains from yesterday after reports the company was progressing with its debt talks.
TW’s shares have climbed 7% in morning trading today. The company’s shares added 7% yesterday following a leaked email from chief executive Peter Redfern that said the company had “very productive negotiations” with its banks.
Redfern said negotiations over TW’s £1.9bn of debt would continue until the end of February.
The news has had a positive effect on the housebuilding sector as a whole.
Barratt Developments has climbed 6% this morning. The company announced yesterday that it had agreed to sell £46m of industrial land and buildings.
Bovis Homes’ shares have climbed 4.1% and Persimmons’ 3.7%.
