US house prices 'in biggest rise for nearly seven years'

 

US house prices in March were up 10.9% from a year earlier, the biggest rise in nearly seven years, according to a closely-watched survey.

The S&P/Case-Shiller index also said all 20 US cities measured posted annual gains for the third straight month.

Meanwhile, separate data showed US consumer confidence in May rose to its highest level in more than five years.

The two reports boosted investor sentiment, with the Dow Jones up 1.4% to 15,520 in early trade.