UK house prices mark fastest rise since December 2022
UK house prices increased 1.6% in March from a year earlier, marking the fastest rise since December 2022, new data from British mortgage lender Nationwide showed.
Prices dropped 0.2% in March alone, the first drop since December 2023 after a 0.7% increase in February.
“Activity has picked up from the weak levels prevailing towards the end of 2023 but remain relatively subdued by historical standards,” said Robert Gardner, chief economist at Nationwide.
“This largely reflects the impact of higher interest rates on affordability. While mortgage rates are below the peaks seen in mid-2023, they remain well above the lows prevailing in the wake of the pandemic,” he added.
—Karen Gilchrist
CNBC Pro: ‘Very, very attractive’: Strategist names two under-the-radar US small cap names to play right now
Market strategist Matt Orton sees promise in small mid cap stocks this year, naming four under-the-radar companies he is bullish on right now.
“I have been optimistic around small-caps this year, and it looks like we could be on the verge of an even bigger breakout,” Orton, who is the chief market strategist at asset management firm Raymond James Investment Management told CNBC’s “Squawk Box Asia” on April 1.
Small cap players in the US stand out to him as “very, very attractive” right now, he said, naming two under-the-radar companies he likes.
CNBC Pro subscribers can read more here.
—Amala Balakrishner
CNBC Pro: Five stocks to buy and hold for the long-term, according to the pros
Investing for the long term is no mean feat.
A longer investment period involves “looking for business models and strategies that are likely to stay for say 10, 20 or even 40 years from now,” says David Dietze, managing partner and senior portfolio strategist at Peapack Private Wealth Management.
CNBC Pro spoke to three fund managers on their stocks to buy now and hold for the longer-term.
CNBC Pro subscribers can read on their top five stocks picks here.
—Amala Balakrishner
European markets: Here are the opening calls
European markets are set to open mixed Tuesday.
The UKs FTSE 100 index is expected to open 5 points lower at 7,957, Germany’s DAX up 10 points at 18,516, France’s CAC 14 points higher at 8,222 and Italy’s FTSE MIB down 91 points at 34,209, according to data from IG.
UK house price data, euro zone manufacturing numbers and German inflation figures for March are all due.
—Karen Gilchrist
