Saturday, April 30, 2011

Mortgage Applications Fall as Rates Hit Seven-Month Highs

Applications for U.S. home mortgages declined last week as home loan interest rates rose for a fifth consecutive week, to seven-month highs, an industry group said on Wednesday.

Market update (PM): ITV leads the pack ahead of long weekend

FTSE 100, ITV

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The biggest riser at the close of trading before the UK's extended bank holiday weekend was commercial broadcaster ITV (ITV.L).

The broadcaster saw share price rise by 4.5 per cent to 76p after analysts at Panmure Gordon reiterated its 'hold' status for the stock.

Standard Life (SL.L) continued with a strong showing increasing by 3.4 per cent to 226.6p, after this morning reporting strong sales and inflows during the first quarter of 2011.

International Power (IPR.L) saw its share price rise by 3.3 per cent to 330.6p, insurance group Legal & General (LGEN.L) added 3.1 per cent to 123.1p, while advertising and marketing group WPP increased by 2.8 per cent rising to 781p.

Whitbread (WBI.L) dropped 3.4 per cent to 1,678p after its preliminary results failed to impress investors.

AstraZeneca (AZN.L) dropped 3.3 per cent to 2,996p, while both Unilever (ULVR.L) and Shire (SHP.L) fell 2.6 per cent to 1,938p and 1,852p, respectively. Elsewhere Barclays (BARC.L) dropped 1.9 per cent to 282.1p. 

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Mortgage Applications Fall as Rates Hit Seven-Month Highs

Applications for U.S. home mortgages declined last week as home loan interest rates rose for a fifth consecutive week, to seven-month highs, an industry group said on Wednesday.