The FTSE 100 Rises, UK House Prices Climb

The FTSE 100 started the week very strongly on Monday, July 1, 2024, with the index rising 0.73% to 8,223.65 just after the opening bell. On Friday, London’s blue-chip index declined 0.19%, falling 15.6 points lower to 8164.12.

EARNINGS RELEASES & ECONOMIC EVENTS

The UK's economic data calendar this week is not too busy. However, there is one very key event happening this week – the UK General Election on Thursday, July 4. Other data points to watch out for include the Nationwide House Price Index (Monday, 7:20 AM), Mortgage Approvals Data (Monday, 09:30 AM), UK New Car Sales (Thursday, July 4, 09:00 AM), and the Halifax House Price Index (Friday, July 5, 07:00 AM). 

The Nationwide House Price Index showed that UK house prices rose 1.5% in June compared to a year ago. The average price is now £266,064, up from the May 2024 average of £264, 249.

Elsewhere, US Non-Farm Payrolls data will be released Friday and is something to be aware of for traders. 

For the UK corporate diary, it's a slow start to the month, which picks up heavily towards the end. CML Microsystems is set tol publish its full year results for FY24 on Tuesday, 2 July 2024. 

FOREX & GOLD

As of 08:08 am, the pound has risen 0.3% higher to 1.2676 after closing Friday’s session just 0.02% higher at 1.2642. The euro has gapped higher, currently up 0.53% at 1.0768 after it closed Friday 0.07% higher at 1.0711. 

Gold is currently at $2,325, declining around 0.04% from Friday’s close.