UK stocks move lower despite strong housing market data

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Source: Dukascopy Bank SA
UK shares are trading lower on Thursday despite positive news from the national economy. UK consumer confidence improved in January. A sentiment index climbed to minus 26 from minus 29, while experts predicted consumer confidence to gain to minus 28. Moreover, UK house prices climbed in January due to easing measures by the BoE. The FTSE 100 Index lost 0.28% to trade at 6,304.99. Only four in ten sectors posted modest gains. The top-performer was basic materials sector, climbing 0.57%. Vedanta Resources, Rio Tinto and Xstrata added 3.52%, 0.94% and 0.51%, respectively. On the upside were also Rolls-Royce Holdings and British Sky Broadcasting Group, surging 1.27% and 1.73%. Rolls-Royce Holdings moved higher after Exane BNP Paribas lifted its recommendation on shares to outperform. British Sky Broadcasting Group announced its adjusted operating profit rose more than expected in H2 of 2012. Sending the UK stock index lower, AstraZeneva sagged 3.52% after warning that its profits are likely to drop in 2013.
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