FTSE 100 posts biggest rise since July; Darktrace and Johnson Matthey to leave in reshuffle – as it happened

Rolling coverage of the latest economic and financial news, including the OECD's new economic outlook

• Latest: FTSE 100 reshuffle sees Darktrace and Johnson Matthey drop out
• Biggest jump in London stocks since July
• OECD warns on inflation... and Omicron
• UK factories face soaring costs
• Turkish central bank intervenes to prop up lira
• UK house prices jumped 10% in year to November

UK house prices were lifted by a shortage of homes on the market, and the rush to fix mortgages before interest rates rise.

So says Lucy Pendleton, property expert at independent estate agents James Pendleton, who predicts December could be unusually intense':

This market is still barreling along, even at a time of year that traditionally sees a little energy taken out of it.

Fewer people choose to move home at Christmas and that normally means you see buyers drop the pace, with many holding off their search until after the New Year.