LONDON, Feb 7 — UK shares were subdued today, as gains in homebuilder stocks over increase in house prices were offset by a sell-off in precious mining stocks, while investors awaited Federal Reserve officials’ comments for monetary policy cues.
The blue-chip FTSE 100 was flat by 08:25 GMT (4pm Malaysia time), while the mid-cap FTSE 250 index slipped 0.1 per cent.
Data showed British house prices reported the strongest annual growth rate for a year in January, adding to tentative signs of momentum in the housing market and lifting the homebuilders index 0.7 per cent.
Bottom performer precious metal miners shed 0.8 per cent on lower gold prices, ahead of speeches by Federal Reserve officials through the week.
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Barratt Developments shares dropped 5.9 per cent, after the homebuilder agreed to buy Redrow for about £2.52 billion (RM15.1 billion). Redrow shares climbed 13.6 per cent.
Soap maker PZ Cussons forecast a lower…
