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HomeBusinessMoneyBUSINESS LIVE: FTSE 100 slides to five-month low; House prices up 0.5%

BUSINESS LIVE: FTSE 100 slides to five-month low; House prices up 0.5%

BUSINESS LIVE: FTSE 100 slides to five-month low; House price inflation highest since financial crisis; Amigo steps closer to lending return

The FTSE 100 is trading at a five-month low on Monday, tracking losses across European and Asian markets, amid soaring oil prices in the wake of Western allies mulling a Russian oil import ban.

Miners and oil stocks are the only names trading in positive territory, while travel and leisure stocks are taking the brunt of the market rout.  

British house prices are growing at the fastest rate since before the global financial crisis, according to Halifax figures, which show prices rose by 0.5 per cent in February.

Prices were 10.8 per cent higher than their level in February 2021, the highest annual growth rate since June 2007.

British sub-prime lender Amigo Holdings could restart lending if it meets certain conditions and its new business rescue plan is approved by the London High Court.

The Financial Conduct Authority, which had opposed the firm’s earlier rescue plan in May, said it does not intend to go against the new business rescue plan in the court hearing.

Burberry, Fortnum’s and Harrods were among the latest companies to shut up shop in Russia over the weekend, as more businesses pile pressure on the Kremlin.

They are joined by a slew of Western businesses cutting ties with Russia over its Ukraine war on Monday, with several British firms alerting investors of their intentions.

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The average price of a house in Britain in February was ÂŁ278,123, up 10.8 per cent on a year ago

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