London’s FTSE 100 kicked off the week on the back foot, dropping three points to 8,283 as trading got underway.
Housebuilders were among the early fallers despite data from Nationwide showing a 3.7% increase in house prices and the fastest growth in two years through November. This left typical prices at £268,144 and just 1% off their all-time high, Nationwide said, adding the continued growth was “surprising” given stretched affordability.
Elsewhere, Boohoo inched higher after announcing £50 million of a £97 million loan had been repaid under a refinancing drive by new boss Dan Finley.
Insurers were dealt some positive news as confirmation came the personal injury lump sum discount rate would be increased.
And finally, Mothercare slumped after unveiling a swing to a pre-tax loss over the first half of the year on geopolitical pressures.