Friday preview: Nationwide house prices in focus on quiet day

(Sharecast News) - Friday looked set to be a very quiet end to the week, with no FTSE 350 corporate releases due. On the macroeconomic calendar, the Nationwide house price index for May is scheduled for release at 0700 BST.

The last set of figures from Nationwide showed that house prices unexpectedly rose in April despite consumer confidence taking a hit from the Iran war.

House prices ticked up 0.4% on the month following a 0.9% jump in March, beating expectations for a 0.3% fall. On the year, prices were 3% higher in April following a 2.2% gain the month before.

The average price of a home stood at £278,880, up from £277,186.

Nationwide chief economist Robert Gardner said at the time that despite the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices, the housing market had continued to regain momentum following the slowdown recorded around the turn of the year.

Also on the macro front, German inflation figures for May are due at 1300 BST, while in the US, the goods trade balance and wholesale inventories for April are at 1330 BST, and the Chicago PMI for May is at 1445 BST.