FTSE 100 Rises As House Price Growth Slows
(RTTNews) - U.K. stocks rose on Friday and the pound was steady as data showed house price inflation in the U.K. eased for the first time in six months in October.
House price growth softened to 2.4 percent in October from 3.2 percent in September, according to the Nationwide Building Society. Economists had expected inflation to fall to 2.8 percent.
On a monthly basis, house prices rose only 0.1 percent, after a 0.6 percent gain in the previous month.
Meanwhile, speaking to Bloomberg's Lizzy Burden, Chancellor of the Exchequer Rachel Reeves said her budget will put the country's public finances on a stable and solid trajectory.
The benchmark FTSE 100 was up 36 points, or half a percent, at 8,146 after rising 0.6 percent on Thursday.
Shares of Solid State, a specialist value-added component supplier, jumped 4.4 percent after the company announced the acquisition of Q-Par Antennas USA LLC for a maximum consideration of up to $2.0 million.
Consumer goods conglomerate Reckitt Benckiser soared nearly 10 percent after it was cleared of liability in a trial regarding its baby formula.
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