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BUZZ-Redrow: strong H1 numbers help lift sector to record high

Reuters - UK Focus

** More encouraging results from UK homebuilders with Redrow poised for biggest one-day move since late 2010 after unveiling a 92 pct rise in H1 pretax profits, a doubling of its divi & a reduction in net debt

** Thomson Reuters UK Homebuilding index, up 2.2 pct, & bluechip Persimmon (Other OTC: PSMMY - news) both hit all-time highs

** Redrow (LSE: RDW.L - news) issues robust outlook detailing strong demand for new homes in spring selling, albeit at early stage of season

** Stock jumps 10 pct, second-top FTSE 250 riser & hitting levels not seen since April in heavy volumes

** Panmure Gordon hikes TP for stock to 328p vs 324p

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** Blue chips Barratt Developments (LSE: BDEV.L - news) & Taylor Wimpey up 1.3-2.4 pct & midcap Bellway (LSE: BWY.L - news) 2.4 pct firmer

** Rally in UK homebuilders comes even as the country's top market - London - has seen home prices under pressure recently

(RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)