Commodity Tips

U.K. house prices gained 0.6 percent month-on-month in October, offsetting September's 0.4 percent drop, figures from the Nationwide Building Society showed Thursday. A typical house in the U.K. now costs GBP 164,153. House prices increased more-than-expected in October, but the volatility in the monthly variation provides no particular direction to the house price movement.

However, monthly price changes have failed to establish a strong trend in either direction over the past six months, Nationwide's Chief Economist Robert Gardner said. House prices dropped 0.9 percent annually in October, slower than the 1.4 percent fall in September.