UK equities made modest gains on Tuesday morning, supported by a weaker pound and mixed trading across Europe. Fresh housing data from Nationwide also pointed to annual price growth in November, despite pressure from recent fiscal developments.
By 08:15 GMT, the FTSE 100 was up 0.04%, while sterling slipped 0.04% against the US dollar to 1.32. Germany’s DAX advanced 0.3%, whereas France’s CAC 40 traded broadly unchanged.
UK highlights
House prices continue to rise
Nationwide reported that UK house prices increased 1.8% year-on-year in November, suggesting the market remains resilient even after the latest Budget. The average home price reached £272,998, up 0.3% from October. However, annual growth slowed from October’s 2.4% reading.
The figures contrast with Rightmove data, which recorded a 1.8% month-on-month decline in asking prices and a 0.5% drop year-on-year—its weakest November performance since 2012.
OBR chair resigns after early Budget leak
Richard Hughes has stepped down as chair of the Office for Budget Responsibility following the inadvertent early publication of Chancellor Rachel Reeves’ Budget—released nearly an hour before its parliamentary unveiling. An oversight board review labelled the incident the most serious lapse since the OBR’s creation 15 years ago.
Bank of England eases capital rules
The Bank of England’s Financial Policy Committee reduced its capital buffer requirement for UK banks from 14% to 13% of risk-weighted assets. The move, outlined in the Bank’s latest Financial Stability in Focus report, aims to support lending to households and businesses.
The FPC cautioned that financial stability risks have risen in 2025 amid stretched global asset valuations, concerns around sovereign debt, and elevated risk in sectors such as AI-focused technology companies.
Corporate updates
discoverIE Group (LSE:DSCV)
Delivered record first-half profitability, with adjusted operating profit up 5% at constant exchange rates to £30.2 million. Revenue grew 3.5% at constant exchange rates to £216.4 million for the six months to 30 September.
Victrex (LSE:VCT)
Held its dividend steady as it described FY26 as a transition year. FY25 volumes rose 12% to 4,164 tonnes, while revenue reached £293 million, up 3% on a constant-currency basis.
Shaftesbury Capital (LSE:SHC)
Reported strong activity across its West End portfolio, achieving rent reviews 14% above previous passing rents and maintaining low gearing of 17%. The company completed 367 leasing deals so far this year, adding £30.2 million in annualised new rent.
On the Beach Group (LSE:OTB)
Announced record transaction value for the fourth straight year. Adjusted profit before tax increased 20% to £35 million for FY2025, with revenue up 6% to £121.4 million.
Wizz Air (LSE:WIZZ)
Carried 5.25 million passengers in November, an 8.6% rise year-on-year. Capacity expanded 9.5% to 5.79 million seats. The airline also marked the delivery of its 250th aircraft on 28 November.
Leave a Reply