The FTSE 100 closed Wednesday with a sixth consecutive day of gains, despite closing off early highs, helped by softer economic U.S. data reinforcing hopes of a rate pause next month. Concerns about people's ability to meet their mortgage repayments have led to a drop in U.K. mortgage approvals, co-founders at mortgage analytics company Eligible say in a note. Stocks in Asia rose for a third day as China stimulus hopes continued to underpin bullish sentiment, IG says. The FTSE 250-listed group said it will monitor the situation closely and work with field operators as necessary. Insurance company Prudential is up 3.2% after a rise in 1H profit while house builder Persimmon gains 1.8%.

Source: Wall Street Journal August 30, 2023 17:16 UTC