Howden Joinery Shares Rise Over 5% in Housebuilding Rally

Howden Joinery Group (LSE: HWDN), the UK-based kitchen and joinery products supplier, rose to 798.29p by 8.30am in London today, Monday 28 September, up 5.18% on the session so far. The stock traded between 762p and 800p during the morning.

At 798.29p, the shares sit close to the session’s high of 800p, having recovered from a low of 762p earlier in the morning. The move has come on volume of 157,589 shares so far, well below the stock’s 20-day average of 1,648,989 — a reminder that the session is still young, with turnover so far running at only a fraction of a typical full day’s trade.

That gap between a sharp price move and thin volume so far is common in early trading and does not by itself say how the rest of the session will unfold.

How unusual this is

A move of this size ranks third among today’s gainers in the FTSE 350, and it stands out against the stock’s own recent trading: Howden Joinery’s daily percentage changes over the past six months show today’s rise as one of the sharpest of the period, well beyond the day-to-day swings that have typically moved the shares. The 38p range between the session low and high so far is itself wide by the stock’s recent standards, underlining how quickly sentiment has shifted since the open.

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What was behind it

The move is linked to a boost for housebuilding-related stocks following a newly announced UK government home-buying scheme, which has lifted shares across the sector today. Howden Joinery, which supplies kitchens and joinery products, sits alongside those names as a beneficiary of the wider move.

The shares carry a market capitalisation of approximately £4.13bn. With the session still running, Monday’s move for Howden Joinery has yet to be finalised at the London close, and both the size of the gain and the volume behind it could still shift before then.