PSN Persimmon Plc

By Sudeshna Ghoshal and Purvi Agarwal Sept 28 (Reuters) - European shares were little changed on Monday as a rally in British homebuilders was offset by higher oil prices and elevated bond yields,

UK homebuilders surged after the government unveiled a new equity-loan scheme allowing first-time buyers to purchase new-build homes with deposits as low as 2.5%.

The FTSE 100 index ended down 10.37 points, or 0.1%, at 10,684.88.

Shares in UK housebuilders have languished so far this year, but news of a revived government Help to Buy scheme appears to be rebuilding the sector.

Government announcement sparks a rally in FTSE-listed housebuilders, but there are still a lot of unknowns

Investing.com -- Shares in British housebuilders surged on Monday after the government said it would launch a state-backed equity loan scheme to help first-time buyers into new-build homes with deposits of just 2.5%.

Investing.com -- European equities reversed gains on Monday, despite a sharp earlier rally in British housebuilders helping lift the broader market, as a renewed surge in oil prices and elevated government bond yields impacted sentiment.

Investing.com -- The Daiwa House deal for a 30% stake in UK private housebuilder Miller Homes, reportedly valued at £400 million, highlights the potential for consolidation in a sector trading at about 0.7 times tangible book value, Stifel said.

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