Investing.com – Net lending to individuals in the U.K. rose less-than-expected in November, official data showed on Tuesday.
In a report, the Bank of England said net lending to individuals increased by GBP0.7 billion in November, down from GBP1.5 billion in October, whose figure was revised up from GBP1.3 billion.
Analysts had expected net lending to rise by GBP0.9 billion in November.
The report also showed that the number of final mortgage approvals rose more-than-expected in November, climbing to 48K, up from 45K in October. Analysts had expected final mortgage approvals to rise to 47K.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD jumping 0.82% to hit 1.5615.
Meanwhile, European stock markets were higher: The FTSE 100 soared 1.81%, the EURO STOXX 50 climbed 0.28%, France’s CAC 40 rose 0.31%, and Germany's DAX was up 0.12%.
In a report, the Bank of England said net lending to individuals increased by GBP0.7 billion in November, down from GBP1.5 billion in October, whose figure was revised up from GBP1.3 billion.
Analysts had expected net lending to rise by GBP0.9 billion in November.
The report also showed that the number of final mortgage approvals rose more-than-expected in November, climbing to 48K, up from 45K in October. Analysts had expected final mortgage approvals to rise to 47K.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD jumping 0.82% to hit 1.5615.
Meanwhile, European stock markets were higher: The FTSE 100 soared 1.81%, the EURO STOXX 50 climbed 0.28%, France’s CAC 40 rose 0.31%, and Germany's DAX was up 0.12%.