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BUSINESS CLOSE: FTSE 100 ends up 0.4%; BoE’s new chief economist


BUSINESS CLOSE: FTSE 100 posts modest gain; BofE names new chief economist; House prices rise 11%; BRC warns food prices will increase

  • FTSE 100 trimmed gains but still closed up 30.14 points at 7149.84
  • FTSE 250 up 0.6% to 24,250 after hitting another intraday record high at 24,290
  • The average cost of a home jumped by nearly £5k in a month, Nationwide said
  • Concerns mount over prospect of higher food prices, BRC has warned
  • New E10 petrol is now available at forecourts across the country 
  • If you are using our app, click here to read Business Live 

The FTSE 100 managed to hold on to some earlier gains, while the FTSE 250 ended higher after hitting another intraday record high.

Property price growth recorded a ‘surprising’ bounceback in August as average values leapt by nearly £5,000 in the space of a month, according to Nationwide.

Across the UK, the average house price in August was £248,857, which is 11 per cent higher than a year earlier.

The average house price in August was £4,628 higher than in July, when it stood at £244,229.

Meanwhile, food retailers are fighting to keep their prices down but are coming under pressure from ‘rising commodity and shipping costs as well as Brexit-related red tape’, experts at the British Retail Consortium said today.  

The HGV driver shortage has created an additional problem with a shortfall of 90,000 drivers, it added. 

Shoppers saw the fall in shop prices slow down over the past month, increasing the prospect of inflation, according to the BRC’s new figures. 

A new form of petrol is being introduced at filling stations across Britain from today.

E10 petrol, which is made with up to 10 per cent bioethanol – a type of renewable fuel – will be the standard offering at forecourts as part of Government plans to cut carbon emissions.


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