The FTSE 100 Index surged 2% today as miners posted big gains on positive global economic news.

The British property market showed signs of stabilising last month after figures today revealed a surprise increase in January house purchase mortgage approvals and a hike in remortgaging activity.

There was more evidence today of a slowing British housing market after a major survey revealed prices fell for the second month in a row.

The FTSE 100 Index held on to early gains today as trading wound down ahead of the festive break.

Thousands of first-time buyers in the UK are at risk of negative equity following a dramatic increase in the number of 100% mortgages available, it was warned today.

House prices in the UK fell by 0.1% during October as higher interest rates and falling confidence continued to impact on the market, figures showed today.

One in four households are unable to afford to buy their own home due to soaring property prices and rising interest rates, a report showed today.

British house prices stagnated for the second month running during September as both buyers and sellers sat on their hands, figures showed today.

British house prices rose by 0.6% during June as the property market remained buoyant, figures showed today.

Signs that retailers enjoyed a better-than-expected Christmas season helped push the FTSE 100 Index to a fresh four-year high today.

Investors received a post-Christmas boost today as utilities helped the FTSE 100 Index move above the 5600 barrier.

Laura Humble, Bloomberg

THE Bank of England is expected to freeze interest rates at 4.75% this week after business and consumer confidence failed to recover after the general election.

HOUSE prices in England and Wales fell for the second month running during August as the market continued to feel the effects of rising interest rates.

ENGLAND and Wales house prices rose 0.4% in October, matching the previous month’s gain, a survey of real estate agents showed.

HOUSE price inflation will continue this year, with the average price of a house nationally expected to grow by 12% to €270,000, which is 38% greater than in England and Wales.

House prices in Britain could rise by up to 12% during 2002 as strong demand continues to fuel the booming property market, it was claimed today.