Good morning from London where the FTSE100 is down slightly this morning, with the miners the big casualty. As usual the UK-listed mining stocks have been hit first by jitters in the Asian markets.
Head of money and markets at Hargreaves Lansdown Susannah Streeter says fresh data from China shows the country is sinking deeper into deflationary territory, amid plummeting food prices. “Consumer prices fell 0.5% year on year in November and what will be a particular worry is that signs of fragility are now starting to be felt in the service sector,” she said.
The Alternative Investment Market is holding steady in comparison to its big brother today, but bitcoin prices dipped 6.5% overnight to wipe out a week of gains for the world’s favourite cryptocurrency. The selloff was likely just people taking profits.
And back at the top end of the FTSE 100 the big gainer on the FTSE 100 this morning is Rolls-Royce, the share price has responded well to Citi increasing its price target for the engineering giant. The broker has raised its target to 431p from 294p following the recent Capital Markets Day.
And finally The average price tag on a UK home has fallen by nearly £7,000 in December, according to figures from Rightmove. The online property portal said the average asking price for a home has fallen by 1.9% this month, reaching £355,177. That’s all for this morning, have a great week