Source: Sharecast
The last residential survey from the Royal Institution of Chartered Surveyors showed the UK housing market remained under pressure in May as geopolitical tensions continued to subdue consumer confidence.
House prices remained in negative territory with a net balance of -35 in May. Agreed sales were also subdued, with an unchanged balance of -37, while new buyer enquiries were unchanged at -34. It was, however, the first time the balance has not fallen further into negative territory since January.
A balance is the proportion of respondents reporting a rise in prices minus those reporting a fall.
Also on the macroeconomic calendar, German trade figures for May will be in focus.
Across the pond, quarterly results are due from PepsiCo. AJ Bell analysts Russ Mould and Dan Coatsworth said: "PepsiCo’s drinks and snacks are consumed by individuals more than one billion times a day in 200 countries. If consumers are feeling flush, they might feel compelled to load up on PepsiCo’s brands including Lay’s, Doritos and Pepsi. But if times are tougher, it’s easy to switch to cheaper supermarket own-brand versions.
"The company last year suffered from weaker sales volumes as consumers rebelled against price hikes, and a shift to healthier living left PepsiCo’s products on the shelf.
"That led to price cuts to encourage more business and first quarter 2026 results showed progress on this front. However, the Middle East war has pushed up costs which means PepsiCo will have to decide whether to stomach lower profit margins or once again make shoppers pay more for its goods."
