FTSE 100 falls at the open; Next jumps on higher guidance; Nvidia unveils new chips – Market Report [Video]

FTSE 100 tumbled 49 points to 8,200 in early trades as housebuilders and banks reacted to weak housing market data.

UK house prices unexpectedly fell last month, according to research from lender Halifax. The index fell 0.2% month-on-month in December, when economists expected it to rise 0.8%, following the previous 1.3% gain. Compared to a year earlier, house prices were up 3.3%, following the 4.8% gain in November.

Better news from Next, which upped guidance again after seeing unexpectedly strong overseas sales over the festive period. The clothing retailer is now more confident in generating a £1 billion profit for the first time this year, as it lifted its profit growth guidance to 10%, up from 9.5%. Full-price sales in the nine weeks to 28 December rose 5.74% if the effect of the end-of-season sale is excluded.

In other retail news, the sector overall enjoyed a 3.2% increase in sales …