German factory recession deepens; UK house prices jump – business live

Rolling coverage of the latest economic and financial news, as German industry continues to struggle badly

12.07pm GMT

Here’s our news story on the Halifax house price index:

Related: UK house prices rise despite uncertainty over Brexit and election

11.56am GMT

European stock markets are rallying thanks to China’s decision to waive some tariffs on US farm goods.

The main indices are all higher, lifting the EU-wide Stoxx 600 index by 0.4% back towards the four-year highs seen in late November.

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