** Shares of ASX-listed building materials firms Fletcher Building FBU.AX, SGH SGH.AX, Metcash MTS.AX and BlueScope Steel BSL.AX rise between 1% and 2.9%
** Australian Bureau of Statistics reported May seasonally adjusted total Australian building approvals rising 6.5% YoY
** Jefferies says private sector houses have shown continued months of improvement, with private sector dwellings excluding houses again showing positive growth
** May was strong month for alterations & additions spend - Brokerage
** Jefferies is confident of the residential market gaining momentum and expects increased activity over the next 12-24 months
** Brokerage's key preferences in early-cycle are FBU, SGH and MTS and BSL, and furniture retailer Nick Scali NCK.AX for late-cycle
** YTD, FBU up 9.6%, SGH has gained 15.1%, MTS has risen 27.9%, BSL up 25.7%, and NCK climbed 20.9%
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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