U.K. stocks were moving lower on Friday as investors digested mixed trade figures from China and awaited the much-anticipated U.S. jobs report for directional cues.
Meanwhile, U.K. house market remained broadly stable with a marginal fall in house prices in May, data from the mortgage lender Halifax showed.
House prices dropped unexpectedly by 0.1 percent month-on-month in May after remaining flat in April. Prices were expected to grow 0.2 percent.
On a yearly basis, house price growth accelerated to 1.5 percent from 1.1 percent in the previous month. This was the sixth consecutive increase.
In a separate release, the Confederation of British Industry has upped its forecasts for U.K. growth to 1 percent in 2024 and 1.9 percent in 2025, citing an expected pick-up in consumer spending.
The benchmark FTSE 100 was up 41 points, or half a percent, at 8,245 after adding half a percent on Thursday.
C&C Group shares slumped 8 percent. Patrick McMahon, the chief executive of the drinks’ maker, has stepped down from his position with immediate attack after the discovery of accounting errors.
Homebuilder Bellway gained 1 percent after raising its annual average selling price forecast.
Market Analysis
FTSE 100 Edges Lower As US Jobs Data Looms
2024-06-07 09:15:57
