FTSE 100 higher in today’s session 

Strength in the UK housing market has driven the FTSE 100 higher during today’s session with the benchmark equity index adding some 30 points by 13:00 BST. The Royal Institution of Chartered Surveyors have released data showing that UK house prices were rising at their fastest pace in seven years helping to lift overall investor sentiment.

Whilst house prices don’t feed directly into the Consumer Price Inflation measure, the resurgence in the housing market has done little to help lower inflation - (a measure the BOE seeks to lower before withdrawal of stimulus). Despite this, CPI eased slightly in July, helped by lower airfares and clothing costs. The consumer price index fell to 2.8 percent last month, down from 2.9 percent in June and in line with economists' forecasts.

Along with the FTSE 100, European headline indices are trading broadly higher, boosted a report showing that German investor confidence increased more than forecast. The ZEW Centre for European Economic Research’s index of investor and analyst expectations rose to 42 in August.

Output at euro zone factories rose broadly in line with expectations in June, driven by a jump in durable goods production, reinforcing expectations the bloc was on track to exit recession in the second half of the year. Industrial production in the 17 countries using the euro was up 0.7 percent in June from May slightly below analysts' expectations for a 0.8 percent increase.

Risers:

Fresnillo
UBS initiates Fresnillo at buy with target of 1250p. Says Fresnillo is a low-cost, low-risk producer that will continue to generate free cash flow at depressed silver and gold prices. Adds Fresnillo offers attractive long-term value

Hochschild Mining
UBS initiates Hochschild Mining at neutral with a target of 210p. Says Hochschild Mining does not face any near-term balance sheet stress, but in a challenging price environment it will need to cut costs and deliver volume growth to restore profitability. Adds project approvals and aggressive cost cutting offer potential upside and sees potential long-term value in Hochschild

Tribal Group
A provider of systems and solutions to the education, training and learning markets, have announced they are currently trading is in line with expectations for the full year after it reported a rise in first half profit

Resolution
Resolution shares trade higher after reporting 1H earnings. Barclays highlight these results as a solid, clean set of earnings with cash generation up 23% on the year to £147m. The company state they are making significant progress in reaching its £400m cash generation target, with annualised underlying cash generation of GBP314M more than covering the GBP300M annual cost of the dividend.

G4S
Shares in the security firm are up another 3% after it was announced hedge fund Cevian Capital, which is chaired by Lord Myners, disclosed a 5.1 per cent stake in the company. Investors have piled into the stock on hopes that the Cavendish Square-based group would add to its shareholding and increase the pressure on the beleaguered G4S board to come up with a grand plan to enhance shareholder value

Fallers:

Waterlogic
A distributor of point-of-use drinking water purification and dispensing systems has announced it expects revenue for the year to Dec. 31 to be in the range of $120 million to $125 million and adjusted EBITDA to be about $20 million. In the Commercial Division some weakness in the indirect channels persisted into 2013 particularly in the International Trading business and in Waterlogic's parts and consumables business in the UK which has been impacted by the termination of a distribution arrangement with a filter supplier

Synety Group
Shares in the telecommunications software company Synety Group PLC sank after reporting a first half loss wider than the same period the previous year, adding that performance indicators are showing good early growth patterns. They are looking to raise £2.1m through a 1.4m share placing at 150p with institutional investors.

Michael Page
Shares in the leading British based recruitment firm are down nearly 5 percent following their first-half results. They reported a 4.4% drop in first half gross profit but said market conditions showed signs of improvement during the second quarter. They mentioned that Australia and parts of Europe remain tough as firms cut back on permanent staffing.

Old Mutual
Nomura downgrades Old Mutual to neutral from buy. Says following a positive response to its 1H result, the stock is now trading in line with the brokerage's 202p price target

EnQuest
The oil and gas development and production company have reported a fall in pre-tax profit despite higher production and revenue in the first half and has said the second half production will be at the lower half of previous expectations.