Persimmon Shares Soar as UK Homebuilder Defies Lackluster Market

Persimmon Plc surged the most in almost six years after the company reported earnings that reassured investors it is navigating a soft UK housing market better than many of its rivals.

The homebuilder delivered full-year results that beat estimates for completions, revenue and margins even as it fell short on profit. In a statement Tuesday, the company said sales in the opening weeks of the year have been strong and the build-to-rent market is recovering from a slowdown.