Last Week in London
Positive corporate news enabled the UK market to make ground last week, despite some selling as investors as locked in gains ahead of the end of the quarter, says Quentin Smith at OMAM UK.
Mortgage lending grew in February at the fastest pace since October, suggesting that higher interest rates have yet to curb demand for borrowing.
House prices rose 1.4% in March after recording their largest rise since April 2002 the month before, according to the Nationwide Building Society monthly survey, further suggesting that two interest rate increases have done little to dampen demand.
Year on year prices rose 16.7%, following a 17.1% gain in February. Nationwide has now increased its full year house price inflation forecast from 9% to 15%.
However, survey evidence suggests that the rate rises, combined with the Madrid bombings, might be having an impact on the consumer sector, as confidence fell in March for a second successive month, according to data from research company Martin Hamblin GfK compiled for the European Commission.
The index of household confidence fell to -3 from -2 in February and 0 in January as consumers are unsure about making major purchases, given the likelihood of further rate rises in the coming months.
The trade deficit in the UK is expected to improve after deteriorating the previous month, while staying high overall. Finally, the Monetary Policy Committee meets this week, with opinion divided as to whether this month or May will see the next rate rise.
The market is closed on Friday for the Easter Holiday.
Mortgage lending grew in February at the fastest pace since October, suggesting that higher interest rates have yet to curb demand for borrowing.
House prices rose 1.4% in March after recording their largest rise since April 2002 the month before, according to the Nationwide Building Society monthly survey, further suggesting that two interest rate increases have done little to dampen demand.
Year on year prices rose 16.7%, following a 17.1% gain in February. Nationwide has now increased its full year house price inflation forecast from 9% to 15%.
However, survey evidence suggests that the rate rises, combined with the Madrid bombings, might be having an impact on the consumer sector, as confidence fell in March for a second successive month, according to data from research company Martin Hamblin GfK compiled for the European Commission.
The index of household confidence fell to -3 from -2 in February and 0 in January as consumers are unsure about making major purchases, given the likelihood of further rate rises in the coming months.
The trade deficit in the UK is expected to improve after deteriorating the previous month, while staying high overall. Finally, the Monetary Policy Committee meets this week, with opinion divided as to whether this month or May will see the next rate rise.
The market is closed on Friday for the Easter Holiday.
Mortgage lending grew in February at the fastest pace since October, suggesting that higher interest rates have yet to curb demand for borrowing.
House prices rose 1.4% in March after recording their largest rise since April 2002 the month before, according to the Nationwide Building Society monthly survey, further suggesting that two interest rate increases have done little to dampen demand.
Year on year prices rose 16.7%, following a 17.1% gain in February. Nationwide has now increased its full year house price inflation forecast from 9% to 15%.
However, survey evidence suggests that the rate rises, combined with the Madrid bombings, might be having an impact on the consumer sector, as confidence fell in March for a second successive month, according to data from research company Martin Hamblin GfK compiled for the European Commission.
The index of household confidence fell to -3 from -2 in February and 0 in January as consumers are unsure about making major purchases, given the likelihood of further rate rises in the coming months.
The trade deficit in the UK is expected to improve after deteriorating the previous month, while staying high overall. Finally, the Monetary Policy Committee meets this week, with opinion divided as to whether this month or May will see the next rate rise.
The market is closed on Friday for the Easter Holiday.
