U.K. Nationwide HPI (YoY) For October -3.3% Vs. -4.8% Est.; -5.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Nationwide House Price Index (HPI) for October shows a year-on-year decrease of 3.3%, which is better than the estimated 4.8% decrease and the prior 5.3% decrease.
November 01, 2023 | 7:02 am
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POSITIVE IMPACT
The better-than-expected U.K. Nationwide HPI could have a positive impact on the iShares MSCI United Kingdom ETF (EWU), as it indicates an improvement in the U.K. housing market.
The U.K. Nationwide HPI is a key indicator of the health of the U.K. housing market. A smaller-than-expected decrease suggests that the market is performing better than anticipated, which could boost investor confidence in U.K.-related assets, including the EWU ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80