U.K. Nationwide HPI (YoY) For May 1.3% Vs. 0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Nationwide House Price Index (HPI) for May showed a year-over-year increase of 1.3%, up from the previous 0.6%.
May 31, 2024 | 6:05 am
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POSITIVE IMPACT
The U.K. Nationwide House Price Index (HPI) for May showed a year-over-year increase of 1.3%, up from the previous 0.6%. This positive data could boost investor confidence in the iShares MSCI United Kingdom ETF (EWU), which tracks the performance of the U.K. equity market.
The increase in the U.K. Nationwide HPI suggests a strengthening housing market, which can positively impact the broader U.K. economy. As EWU tracks the U.K. equity market, this news is likely to boost investor sentiment and potentially lead to a short-term increase in EWU's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80