FTSE 100 up, house prices down – Market Report

The FTSE 100 has risen in early trading today, reaching fortnight highs of around 7,530 points. That’s despite fresh ONS data today showing that the UK economy shrank by 0.3% in the third quarter. And the choppy economic surf continues to keep that downward pressure on house prices. A new forecast from property website Zoopla this morning suggests UK house prices will fall by around 5% in 2023.

Over in the US, former FTX boss Sam Bankman-Fried has arrived in the US to face charges after agreeing to be extradited from his bolthole in the Bahamas. The 30-year-old agreed to be extradited earlier this week.

Among the small caps, ImmuPharma is targeting the next clinical stage for its lupus treatment, Lupuzor, in 2023.

And staying in the realm of biopharmaceuticals, OKYO Pharma has received FDA clearance to initiate a Phase 2 study for its dry eye disease treatment.

That’s all for this morning, today’s report was written by Jai Singh and presented by me, Thomas Warner.

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