U.K. Nationwide HPI (MoM) For May 0.4% Vs. 0.1% Est.; -0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Nationwide House Price Index (HPI) for May increased by 0.4% month-over-month, surpassing the estimated 0.1% and recovering from the previous month's -0.4%.
May 31, 2024 | 6:05 am
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POSITIVE IMPACT
The U.K. Nationwide House Price Index (HPI) for May increased by 0.4% month-over-month, surpassing the estimated 0.1% and recovering from the previous month's -0.4%. 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 better-than-expected increase in the U.K. Nationwide HPI suggests a recovery in the U.K. housing market, which is a significant component of the economy. This could lead to increased investor confidence in the U.K. equity market, positively impacting the iShares MSCI United Kingdom ETF (EWU).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80