FTSE 100 Gains As House Prices Bounce Back In May
(RTTNews) - U.K. stocks eked out modest gains on Friday as data showed U.K. house prices increased in May after two consecutive falls.
House prices gained 0.4 percent month-on-month in May, offsetting April's 0.4 percent decrease as the housing market showed signs of resilience amid ongoing affordability pressures, the Nationwide Building Society said.
As a result, the annual increase in house prices more than doubled to 1.3 percent from 0.6 percent in April.
Meanwhile, the Bank of England has published mortgage approvals data for April.
Mortgage approvals for house purchases in the United Kingdom fell to 61,100 in April, slightly down from 61,300 registered in March.
The benchmark FTSE 100 was up 29 points, or 0.4 percent, at 8,260 after closing 0.6 percent higher on Thursday.
In corporate news, construction group Galliford Try Holdings jumped more than 3 percent after securing two government contracts worth £101m.
Sportswear retailer JD Sports Fashion plunged nearly 7 percent after reporting lower-than-expected full-year profits.
Online betting firm Flutter slumped 5.4 percent as it named a new group CFO.
U.S. Business Inventories Inch Up Slightly Less Than Expected In September
U.S. Industrial Production Falls 0.3% In October As Boeing Strike, Hurricanes Continue To Weigh
New York Manufacturing Index Soars To Nearly Three-Year High In November
U.S. Import Prices Unexpectedly Rise 0.3% In October
U.S. Retail Sales Climb 0.4% In October, Slightly More Than Expected
U.S. Industrial Production Decreases In Line With Estimates In October
New York Manufacturing Index Soars Into Positive Territory November
