UK stock and bond markets have provided mixed initial reactions to the chancellor’s Autumn Budget pledges as she unveiled less severe tax increases than had been expected by some sectors, but increased borrowing commitments.
According to data from MarketWatch, the FTSE 100 rose by almost 0.4% to over 8,200 as Reeves spoke, a level that has since declined to around 8,174 at the time of reporting. Meanwhile, the FTSE 250 has risen by 1.1% since markets opened this morning (30 October) after falling earlier on Tuesday (29 October). During the chancellor's speech, sterling strengthened against the dollar to above $1.3, having dropped below $1.295 earlier today. Smaller companies also received a boost as the FTSE AIM All Share index rallied by around 3.8% over the course of the chancellor's speech, accord...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
