Investing.com - Mortgage approvals in the U.K. rose more-than-expected in May, hitting a 16-month high, industry data showed on Tuesday.
In a report, the British Banker's Association said that the number of new mortgages approved in May rose to 36,100 from April’s revised total of 33,000.
Analysts had expected the number of new mortgages approved in May to rise to 33,100.
Following the release of that data, the pound was modestly higher against the U.S. dollar, with GBP/USD adding 0.09% to trade at 1.5449.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 rose 0.8%, the EURO STOXX 50 rallied 1.4%, France’s CAC 40 climbed 1.4%, while Germany's DAX advanced 1.4%.
In a report, the British Banker's Association said that the number of new mortgages approved in May rose to 36,100 from April’s revised total of 33,000.
Analysts had expected the number of new mortgages approved in May to rise to 33,100.
Following the release of that data, the pound was modestly higher against the U.S. dollar, with GBP/USD adding 0.09% to trade at 1.5449.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 rose 0.8%, the EURO STOXX 50 rallied 1.4%, France’s CAC 40 climbed 1.4%, while Germany's DAX advanced 1.4%.