FTSE LIVE: Stocks stage a rebound amid global tension; House prices slip; Mitie to hive off catering division
- The FTSE 100 shot up 0.8 per cent at the open to 7,175
- Rightmove figures show that house prices fell by around 1 per cent last month
- Mitie confirmed the proposed sale of its catering business to CH&CO
Stock markets ended last week on a more positive note following a rebound in bond yields, which saw the US yield curve move out of its concerning inversion.
But investors will remain cautious for the time being as they continue to juggle a lethal cocktail of US-China trade wars, tensions in Hong Kong, a slowing global economy, uncertainty in Italy and Brexit.
Meanwhile, the housing market appears to have picked up a touch following a 1 per cent drop in house prices in the past month.
An analyst at Rightmove says: ‘There seems to be a bit of a summer buying spree. Buyers have cottoned on to the fact that it can be a good time of year to buy, with less competition from other buyers.’
At the open: The FTSE 100 shot up 0.8 per cent after the bell to reach 7,175.13