US SMALL/MIDCAPS-Housing data boosts homebuilder shares
NEW YORK |
NEW YORK Oct 17 (Reuters) - Small- and mid-capitalization companies climbed on Wednesday, helped by gains in shares of homebuilders after stronger-than-expected data on U.S. housing starts.
Shares of KB Home gained 8.7 percent to $16.76 while shares of Lennar rose 2.2 percent to $38.13 and shares of Ryland were up 4.1 percent at $32.28.
Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, beating even the most optimistic forecasts on Wall Street, Commerce Department data showed on Wednesday.
Among other rising homebuilder shares, Toll Brothers' stock was up 1.8 percent at $34.45.
The S&P MidCap 400 index rose 0.8 percent while the S&P SmallCap 600 index climbed 0.9 percent. In comparison, the benchmark S&P 500 was up 0.4 percent.
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