Investing.com - Mortgage approvals in the U.K. rose more-than-expected in November to hit the highest level since September 2007, industry data showed on Tuesday.
In a report, the British Banker''s Association said that the number of new mortgages approved rose to 50,000 last month from December’s revised total of 47,100. Analysts had expected the number of new mortgages approved to rise to 47,900 in January.
Following the release of that data, the pound was higher against the U.S. dollar, with GBP/USD adding 0.16% to trade at 1.6681.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.15%, the EURO STOXX 50 dipped 0.15%, France’s CAC 40 inched down 0.4%, while Germany''s DAX shed 0.35%.