Bank of England Governor Mark Carney took action to restrain the U.K.’s house-price boom by ending incentives for mortgage lending in a package aimed at curbing “evolving risks” to financial stability.
U.S. stocks pared gains in the final minutes of trading before changes in MSCI indexes, offsetting a rally among homebuilders and technology shares. The Nasdaq Composite Index topped 4,000 for first time in 13 years.
U.S. stocks erased gains as investors sold equities in the final 30 minutes of trading before changes to MSCI Inc. indexes, trimming an earlier rally after improved housing data. Treasuries advanced while Europe’s benchmark gauge fell for the first time in three days.
Japanese shares fell, with the Topix index dropping for a second day to extend its retreat from a six-month high, as the yen maintained yesterday’s gains and insurers and makers of metal products declined.
Barratt Developments Plc, the second-biggest U.K. homebuilder by market value, said advance sales climbed 47 percent after lending improved and the government’s Help to Buy plan increased demand for homes.
Gigi Wong beat four other bidders in an auction of a three-bedroom Sydney house with peeling wallpaper, cracked doors and an overgrown backyard by paying A$856,000 ($811,060), 14 percent more than the realtor expected the property to fetch.