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Market Update Analysis: 
UK Home Prices Fall, Weak Confidence
Author: 123jump.com Staff
123jump.com
Last Update: 2:13 PM EDT April 30 2008


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UK consumer confidence falls to the lowest level in the last sixteen years on worries related to general economic conditions and weak housing market. Nationwide Building Society reported today that U.K house prices declined 1% to £178,555 in April from a year earlier as the credit crunch affect new home purchases. The mortgage lender also forecasts prices may decline as much as 5% this year. Home Retail Group led advancers in the FTSE 100 index shares with a rise of 8.75%.

 
In Tokyo Nikkei 225 Index closed lower 44.38 or 0.32% to 13,849.99, in Hong Kong Hang Seng index decreased 158.80 or 0.61% closed to 25,755.35. In Australia ASX 200 index lower 11.50 or 0.21% to close 5,595.40. In Malaysia KL Composite index decreased 3.79 or 0.30% closed to 1,279.86.

In South Korea Kospi Index increased 13.96 or 0.77% to close at 1,825.47, in Thailand SET index closed lower 1.18 or 0.14% to 832.45 and Indonesia JSE Index edged increased 0.99 or 0.04% to 2,304.52. Sensex index in India decreased 91.15 or 0.52% to 17,287.31.

In London FTSE 100 Index closed lower 2.10 or 0.03% to 6,087.30, in Paris CAC 40 Index increased 19.44 or 0.39% to close at 4,996.54 and in Frankfurt DAX index higher 63.48 or 0.92% to close at 6,948.82. In Zurich trading SMI increased 67.00 or 0.90% to close at 7,529.00.
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