London's property market had the worst price declines in at least 14 years last month as the slump in financial services deepened and banks curbed lending. This had no effect on the FTSE, actually the market is currently quoted higher by more then 20 points.
This morning everyone will be focusing on the UK Consumer Price Index, which is rumored to come in higher then expected, especially after yesterdays PPI numbers. While the door has been shut on the next interest rate cut, a number which is in line with expectations will mean that producers are not passing on their extra costs to the consumer, this could hurt earnings and the broader FTSE index.
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