The FTSE 100 was down 0.1% at 8,259.39.
A examine launched earlier by GfK revealed that buyer self-confidence dropped a little bit in October, with prospects in a “despondent” mind-set upfront of the Budget.
GfK’s buyer self-confidence index pushed down one point out -21, dropping again to the diploma final seen in March this 12 months.
Neil Bellamy, buyer understandings supervisor at GfK, acknowledged: “As the Budget declaration impends, prospects stay in a sorrowful mind-set no matter an autumn within the heading worth of rising value of dwelling.
“This month’s consumer confidence barometer paints a picture of people holding their breath to see what’s in store for them on 30th October.”
Susannah Streeter, head of money and markets at Hargreaves Lansdown, acknowledged: “The FTSE 100 stays in a holding patten on the finish of the week, because the UK Budget impends and financiers keep very conscious.
“As the pondering online game proceeds relating to what Chancellor Rachel Reeves will definitely encompass in her preliminary Budget, it’s dinged up buyer self-confidence within the UK. A really intently loved examine from GfK exhibits {that a} sorrowful mind-set has really held upfront of discovery of the federal authorities’s tax obligation and funds with worries relating to the UK financial state of affairs rising.
“GfK’s consumer confidence survey fell one point to -21 in October from -20 in September. This is the lowest since March, when the former Conservative Chancellor Jeremy Hunt delivered his last Budget. However, with fresh interest rate cuts expected optimism around consumers’ finances and confidence about making major purchases ticked up. This will provide hope that once the government’s financial plan becomes clear, uncertainty may ease off and overall consumer confidence may rebound.”
On the enterprise entrance, NatWest leapt to the highest of the FTSE 100 because it elevated its full-year income projections after a stable third quarter, during which revenues leapt by 34.6% on in 2015. Profit for the three months to 30 September amounted to ₤ 1.24 bn, up from ₤ 924m, as general income elevated 7.3% to ₤ 3.49 bn.
The monetary workforce acknowledged it at present anticipates to achieve a return on concrete fairness over 15%, up one p.c issue on earlier help, whereas modified income should be accessible in at ₤ 14.4 bn, in comparison with an earlier projection of ₤ 14bn.
Airtel Africa sagged because it printed a lower in first-half earnings and earnings. In the fifty p.c 12 months to 30 September, income dropped 9.7% $2.37 bn, struck notably by “significant” cash declines in Nigeria, Malawi, Zambia and Tanzania.
Meanwhile, working earnings was down 20.3% to $706m.
SSE was knocked diminished by a downgrade to ‘sell’ atCiti The monetary establishment acknowledged: “SSE has an attractive set of networks and renewable assets. However, we are increasingly concerned around the deployment of its offshore wind fleet and see risks of further delays, which could impact EPS and/or returns.”
Market Movers
FTSE 100 (UKX) 8,259.39 -0.12%
FTSE 250 (MCX) 20,802.84 0.06%
techMARK (TASX) 4,732.58 -0.30%
FTSE 100 – Risers
NATWEST GROUP (NWG) 373.40 p 4.80%
Barclays (BARC) 245.00 p 2.88%
Anglo American (AAL) 2,383.00 p 2.56%
London Stock Exchange Group (LSEG) 10,635.00 p 2.41%
Unilever (ULVR) 4,758.00 p 2.26%
Standard Chartered (STAN) 860.20 p 2.14%
Intermediate Capital Group (ICG) 2,124.00 p 1.82%
Scottish Mortgage Inv Trust (SMT) 864.20 p 1.62%
Auto Trader Group (AUTO) 885.00 p 1.51%
CRH (CDI) (CRH) 7,138.00 p 1.45%
FTSE 100 – Fallers
Airtel Africa (AAF) 109.90 p -4.02%
Smith & Nephew (SN.) 1,079.00 p -3.92%
SSE (SSE) 1,823.50 p -3.65%
United Utilities Group (UU.) 1,042.50 p -2.66%
Intertek Group (ITRK) 4,726.00 p -2.44%
Severn Trent (SVT) 2,619.00 p -2.42%
Convatec Group (CTEC) 218.40 p -2.24%
Reckitt Benckiser Group (RKT) 4,865.00 p -1.78%
BAE Systems (BA.) 1,299.50 p -1.78%
Hikma Pharmaceuticals (HIK) 1,940.00 p -1.67%
FTSE 250 – Risers
Bloomsbury Publishing (BMY) 758.00 p 11.14%
Softcat (SCT) 1,686.00 p 10.05%
Burberry Group (BRBY) 764.60 p 7.39%
Indivior (INDV) 695.50 p 6.43%
Trustpilot Group (TRST) 247.50 p 4.43%
Kainos Group (KNOS) 825.00 p 3.64%
Watches of Switzerland Group (WOSG) 448.40 p 3.46%
Spire Healthcare Group (SPI) 226.00 p 2.73%
CMC Markets (CMCX) 325.00 p 2.69%
Alpha Group International (ALPH) 2,125.00 p 2.66%
FTSE 250 – Fallers
Abrdn (ABDN) 141.50 p -13.69%
Close Brothers Group (CBG) 330.00 p -10.47%
Travis Perkins (TPK) 875.50 p -5.04%
Pennon Group (PNN) 566.50 p -4.47%
Inchcape (INCH) 731.00 p -4.13%
Wetherspoon (J.D.) (JDW) 679.00 p -3.76%
Kier Group (KIE) 143.80 p -3.75%
Jupiter Fund Management (JUP) 80.60 p -3.59%
PureTech Health (PRTC) 151.20 p -3.45%
Morgan Sindall Group (MGNS) 3,830.00 p -3.16%
