FTSE 100 Rises As House Prices Show Surprise Rise
(RTTNews) - U.K. stocks were slightly higher on Wednesday as investors reacted to mixed earnings updates and looked ahead to the Federal Reserve's decision on rates.
In economic releases, data showed British house prices in October were 0.9 percent higher than in September, supported by a lack of properties for sale.
The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 7,334 after finishing marginally lower on Tuesday.
Clothing and homeware group Next rallied 3.4 percent after raising its profit guidance for the fourth time so for this fiscal year.
Likewise, pharmaceutical giant GSK rose about 1 percent after upgrading its financial guidance for the second time this year.
BHP rose 0.6 percent. The chief executive of the mining giant said China's demand for commodities including iron ore and copper remains robust despite signs of lackluster economic recovery in the country and troubles in the property market.
ASOS plunged 10 percent after the embattled fast fashion retailer posted a near £300m annual loss.
Aston Martin Lagonda plummeted 14 percent. The luxury carmaker lowered its 2023 volume outlook for the DB12 model after posting a wider-than-expected third-quarter loss.
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