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BUZZ-UK residential: bullish broker boosts sector prospects

Reuters - UK Focus

** UK residential stocks notch strong gains as Jefferies raises price targets

** Berkeley, Bovis, Crest Nicholson (Stuttgart: C38.SG - news) , Bellway (LSE: BWY.L - news) and Redrow (LSE: RDW.L - news) among the top FTSE-250 midcap risers

** Barratt Developments (LSE: BDEV.L - news) among the top risers on FTSE 100

** Jefferies reckons predictability of cash returns is underpinning valuations and believes the sector is set for further re-rating over the next 12 months

** Gains seen across the sector, with the Thomson Reuters UK Homebuilding index up 0.5 pct on Thursday.

** Index had risen c.17 pct from May 8 British election results until Wednesday's close

(RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)