Sun. Nov 28th, 2021

Good morning. 

We start with more booming growth in the housing market, with prices posting their sharpest monthly increase in more than 14 years.

The average price of a home rose 1.7pc to £267,587 in September, which is the largest rise since February 2007. For the year, house prices are up 7.4pc.

The housing market has boomed since last summer, boosted by the stamp duty cut and demand for larger homes outside city centre.

While September marked the end of the stamp duty holiday, many of the factors supporting the market remain in place.

They include cheap borrowing, lack of supply, a robust jobs market and ongoing demand for larger properties amid the shift to home working.

5 things to start your day 

1)  Gas prices swing wildly as Putin vows to boost supplies – Prices fall back from new record highs after Russian president says he will pump more gas to Europe to help alleviate the energy crisis

2)  Alan Rusbridger under pressure over Facebook role as whistleblower scandal deepens – Allegations social network puts profit over safety prompt calls for ex-Guardian editor and others on Oversight Board to quit

3)  Rail commuters face 12pc fare rises as inflation mounts – Surge in train ticket prices piles more misery on workers heading back to the office after the pandemic

4) Used cars prices hit ‘extraordinary’ record average high above £16,000 – Lack of new vehicles due to the chip crisis and fear of public transport has helped fuel 18 consecutive months of price increases

5) Council tax must rise by £220 to repair £3bn Covid black hole, says IFS – Institute for Fiscal Studies says council tax may need to rise by 5pc a year as social care reforms pose ‘major challenges’ for budgets

What happened overnight 

Asian shares rallied on Thursday, taking heart from a late recovery on Wall Street after US politicans appeared near to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets.

Oil prices also dropped back from multi-year highs hit a day earlier, having been a major contributor to this week’s equities sell off, while US benchmark Treasury yields and major currencies steadied amid the calmer mood.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.25pc in early trade, regaining ground lost in recent days to be little changed on the week.

As oil prices came off on Thursday, there were gains in share benchmarks in Korea up 1.3pc, Australia up 0.64pc, and Hong Kong up 2pc.

Japan’s Nikkei rose 0.89pc, and US stock futures, the S&P 500 e-minis, gained 0.42pc.

Chinese markets remained closed for a holiday.

Coming up today

Full-year results

Volution Group Interims: Vertu Motors, Morses Club

Trading update

Entain, Mondi, CMC Markets, Robert Walters


Halifax house prices (UK); jobless claims (US) 


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Wizadclick | WAC MAG 2021