European Stocks Edge Higher as UK Homebuilders Rally on Loan Plan

European stocks edged higher on Monday, led by a sharp rally in British homebuilders after the government said it would confirm a loan program for first-time buyers in next month’s budget. Shares of major U.K. builders jumped more than 10%, lifting the broader market. Gains were limited by rising oil prices after President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and end the conflict, alongside elevated government bond yields and concerns about inflation. Investors were also watching central-bank officials and upcoming U.S. economic data for signals on interest rates.