Tuesday, February 8, 2011

Slip slidin’ away

FTSE inches down as house prices slip

Britain’s benchmark stock index pulled back slightly from a 3-week high on Tuesday after data showed that while UK retail sales rebounded in January, house prices continued to drop.....The Royal Institution of Chartered Surveyors said a balance of 7% of surveyors reported a decline in new buyer enquiries last month, amid concerns that the Bank of England will hike interest rates in the near future. Analysts at ING noted that the data also showed that house prices fell at a slower pace. However, they noted that, ‘We remain concerned that with employment falling again, real wages contracting significantly, benefits being cut and taxes going up, real household disposable income will be negative this year.

Posted by jack c @ 11:20 AM (1042 views)
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One thought on “Slip slidin’ away

  • Slow news day when they are writing about a 14 point “fall”

    Over the last 3 years of volatility, anything less than 60 pt move surely has to be considered flat.

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