Sector movers: Confident Taylor Wimpey lifts housebuilders higher

13th May 2014 14:41

Bullish comments from Taylor Wimpey gave housebuilders a big boost on Tuesday as the UK housing market continues to go from strength to strength.The group set out a "new and enhanced" set of ambitious financial targets over the medium-term, aiming for higher margins and returns. It also confirmed that it will return at least £200m of cash per year from 2016 on top of the £50m special dividend in July 2014 and £200m in July 2015."The UK housing market continues to perform strongly with sales rates and pricing at the upper end of our expectations," the group said at an analyst and investor day in London.Taylor Wimpey also reassured investors the recent introduction of new regulations following the Mortgage Market Review will not adversely impact the business and consumer confidence remains high. The stock was 7.7% higher at 114.5p by 14:52.Others in the sector were performing well, such as Barratt Developments, Persimmon and Crest Nicholson which all gained around 3% today.Bellway, Berkeley and Bovis Homes were also higher in afternoon trade.Top performing sectors so far todayHousehold Goods & Home Construction 11,321.69 +1.60%Aerospace and Defence 4,791.86 +1.22%Industrial Transportation 3,227.63 +1.22%Automobiles & Parts 8,922.06 +1.19%Equity Investment Instruments 6,821.63 +0.78%Bottom performing sectors so far todayMobile Telecommunications 4,922.51 -2.30%Industrial Metals & Mining 1,244.34 -1.17%Travel & Leisure 7,461.56 -0.44%Electricity 9,571.23 -0.43%Oil Equipment, Services & Distribution 23,733.13 -0.43%BC