The agendaħam BST: Nationwide house price index for Aprilĩam BST: Eurozone manufacturing PMI for Aprilĩ.30am BST: UK manufacturing PMI for Aprilġ0am BST: Eurozone core inflation rate on AprilĢd ago 14.34 BST Pearson hit by AI worries Core inflation could stick at 5.7%, worryingly high for the European Central Bank. We get the latest eurozone inflation report this morning, with prices expected to have risen by 7% in the 12 months to April, up from 6.9%. That follows a surprise contraction in China’s factory output, reported on Sunday. The latest factory PMI reports will show how manufacturers in the UK and the eurozone fared in April. The energy giant said its underlying profits hit $5bn (£4bn) in the first three months of the year, outstripping analysts’ forecasts. such as HSBC, which has reported a three-fold jump in earnings in the last quarter, On a constant currency basis, HSBC’s profit before tax increased by $9.0bn to $12.9bn, leading the bank to launch up to $2bn of share buybacks and a 10 cent-per-share dividend.īP has defied an easing in energy prices to post one of the largest first-quarter profits in its history, reigniting a debate over windfall gains by oil and gas firms. Higher interest rates lift profits at banks…. Last month, Rightmove reported that asking prices were at record levels: However, in recent months industry data on mortgage applications point to signs of a pickup. “Recent Bank of England data suggests that housing market activity remained subdued in the opening months of 2023, with the number of mortgages approved for house purchase in February nearly 40% below the level prevailing a year ago, and around a third lower than pre-pandemic levels.

Robert Gardner, Nationwide’s chief economist, reports there were “tentative signs of a recovery” in the market last month, although this still leaves prices 4% below their August 2022 peak. This has lifted the annual rate of house price growth to -2.7%, from -3.1% in March ( the biggest fall since 2009), as calm returned to the markets after the chaos of last autumn’s min-budget. The average price increased to £260,441, up from £257,122 in March. UK house price growth picked up in April, building society Nationwide reports this morning, with the first monthly increase in seven month.Īverage house prices rose by 0.5% last month, Nationwide’s data shows, following seven consecutive falls going back to last September. Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.

07.19 BST Introduction: UK house prices rise in April after seven consecutive falls

The fall of the house of usher pages