FTSE 100 Little Changed On China Growth Concerns
(RTTNews) - U.K. stocks were little changed in cautious trade on Monday after Chinese health officials reiterated that they would continue with the country's strict COVID-19 measures.
The benchmark FTSE 100 was marginally lower at 7.328 after rallying 2 percent on Friday.
PayPoint slumped 4.7 percent after it agreed to buy gifting and engagement firm Appreciate Group for 83 million pounds ($94.4 million) in shares and cash.
GSK fell 2.6 percent. The drug maker said a late-stage study of its blood cancer drug Blenrep failed to meet its main goal.
In economic releases, U.K. house prices were down 0.4 percent in October from September, when prices slid 0.1 percent, data published by the Llyods Bank subsidiary Halifax showed.
This was the second consecutive fall and the sharpest since February 2021. The rate came in line with expectations.
The latest fall has taken the typical property price to a five-month low of GBP292,598.
The annual house price growth eased to 8.3 percent in October from 9.8 percent in the preceding period.
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