(Sharecast News) - London stocks were little changed in early trade on Wednesday after strong gains in the previous session, which saw the FTSE 100 hit its highest level since March as investors cheered the Brexit trade deal and US stimulus package.
At 0850 GMT, the top-flight index was up just 0.1% at 6,607.55, with lawmakers in the UK set to vote on the EU-UK trade deal in parliament later in the day.

Investors were also digesting the latest data from Nationwide, which showed that house prices rose to a six-year high at the end of 2020.

Annual house price growth hit 7.3% in December, up from 6.5% in the previous month. On the month, meanwhile, price rose by 0.8% following a 0.9% increase in November. House prices ended the year 5.3% above the level prevailing in March, when the pandemic hit the UK.

Robert Gardner, Nationwide's chief economist, said: "The resilience seen in recent quarters seemed unlikely at the start of the pandemic. Indeed, housing market activity almost ground to a complete halt during the first lockdown as the wider economy shrank by an unprecedented 26%.

"But, since then, housing demand has been buoyed by a raft of policy measures and changing preferences in the wake of the pandemic. The furlough and Self Employment Income Support schemes provided vital support for the labour market, while a host of measures helped to keep down the cost of borrowing and keep the supply of credit flowing. The stamp duty holiday also stimulated housing demand, by bringing forward people's home-moving plans.

"Lenders also responded by offering payment holidays to borrowers impacted by the pandemic, helping people stay in their homes rather than potentially being forced to sell."

In equity markets, AstraZeneca nudged up after the UK approved the Covid-19 vaccine it developed with Oxford University. The shares had already rallied on Tuesday amid expectations the vaccine would be approved this week.

Unlike the Pfizer/BionTech vaccine, which was approved at the start of December and needs to be stored at -70C, the AstraZeneca vaccine can be stored, transported and handled at normal refrigerated conditions for at least six months, making the rollout much simpler.

AstraZeneca is aiming to supply millions of doses in the first quarter as part of an agreement with the government to supply up to 100m in total. Vaccinations are set to begin next week.

News of the approval came as millions more people in England were expected to be plunged into tougher Tier 4 coronavirus restrictions.

Elsewhere, banks were on the rise following heavy losses a day earlier, with Barclays, Standard Chartered, Lloyds, NatWest and HSBC all higher.

Market Movers

FTSE 100 (UKX) 6,607.55 0.07%
FTSE 250 (MCX) 20,925.01 0.13%
techMARK (TASX) 4,167.67 0.03%

FTSE 100 - Risers

Barclays (BARC) 152.50p 2.16%
Standard Chartered (STAN) 479.00p 2.13%
Whitbread (WTB) 3,210.00p 1.94%
Lloyds Banking Group (LLOY) 37.45p 1.89%
NATWEST GROUP PLC ORD 100P (NWG) 166.05p 1.65%
Pershing Square Holdings Ltd NPV (PSH) 2,575.00p 1.58%
HSBC Holdings (HSBA) 389.20p 1.47%
SEGRO (SGRO) 971.80p 1.46%
Legal & General Group (LGEN) 269.50p 1.39%
Rolls-Royce Holdings (RR.) 114.35p 1.33%

FTSE 100 - Fallers

Diageo (DGE) 3,012.00p -1.08%
Kingfisher (KGF) 273.00p -1.02%
Smiths Group (SMIN) 1,555.00p -0.99%
Intertek Group (ITRK) 5,874.00p -0.98%
United Utilities Group (UU.) 918.00p -0.89%
Fresnillo (FRES) 1,157.50p -0.86%
Next (NXT) 7,174.00p -0.83%
Ferguson (FERG) 8,930.00p -0.82%
Rio Tinto (RIO) 5,591.00p -0.73%
Anglo American (AAL) 2,457.00p -0.71%

FTSE 250 - Risers

SSP Group (SSPG) 349.20p 4.11%
Direct Line Insurance Group (DLG) 325.80p 2.65%
Cineworld Group (CINE) 65.48p 2.50%
Shaftesbury (SHB) 580.00p 2.38%
WH Smith (SMWH) 1,588.00p 2.06%
TUI AG Reg Shs (DI) (TUI) 481.80p 2.05%
Wetherspoon (J.D.) (JDW) 1,144.00p 1.87%
Sabre Insurance Group (SBRE) 279.50p 1.82%
Rank Group (RNK) 147.00p 1.80%
Morgan Sindall Group (MGNS) 1,598.00p 1.78%

FTSE 250 - Fallers

Vivo Energy (VVO) 81.80p -4.44%
Hochschild Mining (HOC) 210.20p -2.78%
TP ICAP (TCAP) 249.00p -2.05%
Network International Holdings (NETW) 315.60p -1.80%
Morgan Advanced Materials (MGAM) 314.50p -1.56%
Sirius Real Estate Ltd. (SRE) 96.10p -1.54%
Centamin (DI) (CEY) 125.70p -1.53%
Safestore Holdings (SAFE) 783.50p -1.38%
Apax Global Alpha Limited (APAX) 198.40p -1.29%
Petropavlovsk (POG) 30.60p -1.29%