1447 GMT - Banks and housebuilders are leading the FTSE 100 index risers after better than expected inflation data, boosting chances that the Bank of England will cut interest rates. Consumer prices were 2.5% higher in December than a year earlier, down from 2.6% in November, according to official figures. Potentially lower interest rates will bring mortgage rates down, making it more affordable for people to get on the housing ladder, AJ Bell investment director Russ Mould writes. He adds that banking shares have also jumped on the prospect of more demand in the mortgage market. Lloyds Banking Group shares are up 5.6% and Barclays shares are up 5.0%, while housebuilders Persimmon, Taylor Wimpey and Barratt Redrow shares are up 5.25%, 4.7% and 4.2%, respectively. (ian.walker@wsj.com.)
(END) Dow Jones Newswires
January 15, 2025 09:48 ET (14:48 GMT)
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