FTSE 100 Drifts Lower After House Price Data
(RTTNews) - U.K. stocks declined on Thursday as data from mortgage lender Halifax continued to suggest a relatively stable start to 2024.
British house prices rose by 1.7 percent in the year to February, slowing from January's 2.3 percent. increase, Halifax reported.
On a monthly basis, house prices advanced 0.4 percent from January, following a 1.2 percent gain in January and the expected 0.8 percent increase.
The benchmark FTSE 100 was down 30 points, or 0.4 percent, at 7,649 after adding 0.4 percent the previous day.
Shares of Grafton Group declined 2 percent after the building materials distributor and DIY retailer reported that its fiscal 2023 profit before tax fell 27 percent from last year.
Virgin Money UK soared 36 percent after Britain's Nationwide Building Society agreed to buy the lender in a potential 2.9 billion pounds ($3.69 billion) all-cash deal.
Insurer Aviva jumped 5 percent after reporting a 9 percent rise in annual operating profit.
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