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| Oil prices dip as Yemen fears fade - live updates | Oil prices dip as Yemen fears fade - live updates |
| (34 minutes later) | |
| 8.59am GMT08:59 | |
| UK house price growth slows | |
| While we’re waiting for Mark Carney’s panel to start in Frankfurt, an update from the UK’s housing market. | |
| The annual rate of house price growth slowed for a seventh month in March, to 5.1%. That - according to the Nationwide index - compares with a recent peak of 11.8% in June 2014. | |
| The average price of a UK home is now 2% above its pre-crisis peak, at £189,454. | |
| Over the month of March, prices rose by 0.1%. The Guardian’s full story is here. | |
| 8.50am GMT08:50 | |
| European markets rise | |
| Following a sell-off in European markets on Thursday, and a 0.95% fall in the Nikkei overnight, investors are a little more upbeat this morning. | |
| The FTSE 100 is down slightly, 0.1% lower at 6,888.62, but markets are up elsewhere. | |
| 8.38am GMT08:38 | |
| Mark Carney, Bank of England governor, will be speaking on a panel at the Bundesbank conference from around 8.45am (UK time). | |
| The live feed is here and we will be following it. | |
| Wolfgang Schäuble, German finance minister will also be speaking at the conference this afternoon. | |
| 8.26am GMT08:26 | |
| Germany's Weidmann: eurozone debt in 'danger zone' | |
| Over in Frankfurt, the head of Germany’s central bank and a member of the European Central Bank’s governing council, has been warning on unsustainable debt levels in the eurozone. | |
| Speaking at a Bundesbank conference, Jens Weidmann said: | |
| In the euro area we are already in the danger zone - at least with regard to public debt standing at 91% and corporate debt at 105%. Household debt currently stands at 62%. | |
| Sovereign debt needs to be backed by capital, and exposure to a single sovereign must be capped, just as is the case for any private debtor. | |
| You can read the full speech here. | |
| 8.00am GMT08:00 | 8.00am GMT08:00 |
| Oil prices fall 1.7% | Oil prices fall 1.7% |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. |
| Oil prices are falling again after the absence of fresh developments in Yemen eased fears of a broader conflict in the Middle East. | Oil prices are falling again after the absence of fresh developments in Yemen eased fears of a broader conflict in the Middle East. |
| Brent crude is down 1.7% at $58.17 this morning, following a 4% jump in Thursday trading. | Brent crude is down 1.7% at $58.17 this morning, following a 4% jump in Thursday trading. |
| Michael Hewson, chief market analyst at CMC Markets UK, says Tuesday’s spike followed patterns we’ve seen before. | Michael Hewson, chief market analyst at CMC Markets UK, says Tuesday’s spike followed patterns we’ve seen before. |
| The spike in oil prices caused by the Saudi military incursions into Yemen, has all the hallmarks of a classic knee jerk market reaction to a new flashpoint. | The spike in oil prices caused by the Saudi military incursions into Yemen, has all the hallmarks of a classic knee jerk market reaction to a new flashpoint. |
| We saw similar spikes last year with Ukraine, Libya and ISIS pushing into Iraq before markets settled back down again, and it is likely that these concerns about Yemen could follow a similar pattern, as long as there is no significant disruption through the straits between the Gulf of Aden and the Red Sea. | We saw similar spikes last year with Ukraine, Libya and ISIS pushing into Iraq before markets settled back down again, and it is likely that these concerns about Yemen could follow a similar pattern, as long as there is no significant disruption through the straits between the Gulf of Aden and the Red Sea. |
| Read our full story on how Saudi-led air strikes on the Yemeni capital, Sana’a, and the southern port city of Aden , affected markets on Thursday. | Read our full story on how Saudi-led air strikes on the Yemeni capital, Sana’a, and the southern port city of Aden , affected markets on Thursday. |
| Updated at 8.07am GMT | Updated at 8.07am GMT |