London's FTSE 100 edged lower in early trades with house prices, the agreed takeover of Direct Line and US jobs later catching most attention.
The Footsie was two points down at 8,347 with housebuilders Persimmon and Berkeley the bright spots as house prices hit a new record high.
According to Halifax, the typical house now costs £298,083, after prices increased by 4.8% over the year to November for the largest uptick since the same month in 2022. Month on month, prices ticked up by 1.3%, marking the fifth consecutive rise.
Separately, FTSE 100-listed Berkeley said transaction volumes in the current 2025 financial year “remain around a third lower” than the previous two years. “A meaningful recovery will require a sustained improvement in consumer confidence and stability in the wider macroeconomic environment,” the London-focused builder said.
Direct Line meanwhile has succumbed to an increased takeover offer by insurance rival Aviva worth 275p a share. A 73% premium to the closing price on November 27, the offer comprises 129.7p in cash and the rest in new Aviva shares, plus a 5p dividend payment.
