FTSE 100 Edges Higher Ahead Of US Inflation Data
2024-08-23
2560
(fxcue news) - U.K. stocks eked out modest gains to hit a three-month high on Friday as investors await the release of the core PCE price index, a key U.S. inflation measure, due later in the day.
Meanwhile, traders shrugged off data from mortgage lender Nationwide Building Society that showed U.K. house prices dropped for the first time in four months in August despite the fall in mortgage rates.
House prices posted a monthly fall of 0.2 percent, reversing July's 0.3 percent increase.
On a yearly basis, house price inflation accelerated to 2.4 percent from 2.1 percent in July. This was the fastest since December 2022.
The benchmark FTSE 100 was up 22 points, or 0.3 percent, at 8,402 after edging up 0.4 percent on Thursday.
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