UK stocks advanced on Friday, with the pound maintaining stability, as new data indicated a slowdown in the country’s house price inflation for the first time in six months in October. According to the Nationwide Building Society, house price growth decelerated to 2.4% in October, down from 3.2% in September. This figure was below economists' forecasts, who had anticipated a reduction to 2.8%. On a month-to-month comparison, house prices saw a minimal increase of 0.1%, following a 0.6% rise in the previous month.
In a separate development, Chancellor of the Exchequer Rachel Reeves, during an interview with Bloomberg's Lizzy Burden, expressed that her budget aims to place the UK's public finances on a sound and sustainable path.
The FTSE 100 benchmark index gained 36 points, marking an increase of 0.5%, to reach 8,146, following a 0.6% rise on Thursday.
In company news, shares of Solid State, recognized for supplying value-added components, leaped by 4.4% after announcing its acquisition of Q-Par Antennas USA LLC, in a deal valued at up to $2.0 million. Meanwhile, consumer goods giant Reckitt Benckiser surged nearly 10% after being absolved of liability in a court case concerning its baby formula.
