UK Home Prices Ease, Aberdeen Asset Management Revenues Up 7%

Arthi Gupta
30 Apr, 2012
New York City

The UK indexes fell after home prices eased in April. Irish loans to households dropped in March. Aberdeen first-half revenue rose 7% to

[R]3:30 PM London – The UK indexes fell after home prices eased in April. Irish loans to households dropped in March. Aberdeen first-half revenue rose 7% to £413.1 million.[/R]

The UK indexes pared gains on weak economic data and rising uncertainties in Europe. Spain joined the UK and dipped into recession after its economy contracted in March quarter.

In London, the benchmark index FTSE 100 declined 38.02 or 0.6% to 5,739.40 and the pound edged lower to $1.6255.

UK Home Prices Ease

Home prices in the UK eased 0.1% in April, following a 0.2% gain in March, a survey by Hometrack showed today.

Home prices in London reported the strongest gain of 0.3%.

Irish Household Loans Drop

Ireland''s loans to households dropped 3.9% from a year ago in March, following a decline of 4% in February, data from the Central Bank of Ireland showed.

Lending to the non-financial corporate sector declined 2.2% in the year ending March, following an annual fall of 2.3% in February.

Gainers & Losers

Aberdeen Asset Management plc soared 3.3% to 283.10 pence after the asset management company reported first-half revenue grew 7% to £413.1 million from £385.9 million a year ago. Assets under management in the period rose 9% to £184.7 billion.

Barclays PLC fell 1.2% to 220.35 pence and the bank said it plans to form a strategic partnership with The Qatar Asset Management Co.

3i Group Plc dropped 0.2% to 191.80 pence and the private equity firm is looking to sell its women''s fashion retailer Hobbs for as much as £250 million, the Sunday Telegraph reported.