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London’s benchmark index continued its downward trend for the fourth consecutive day on Wednesday, as investors shied away from risky assets due to the upcoming UK budget and the U.S. election, while industrial metal miners weighed on the index. The blue-chip FTSE 100 declined by 0.65%.Under pressure from a stronger U.S. dollar, industrial metal miners lost 1.2% as copper prices slumped. As demand for safe-haven assets surged and gold established a record-high, precious metal miners climbed 0.8%. Investors have been preoccupied with the possibility of another Trump administration, which has driven them to the margins until more clarity is seen. Among other actions meant to raise inflation, Trump’s proposals include tariffs and prohibitions on illegal immigration. The Bank of England meets in two weeks to discuss interest rates; the markets fully price a rate drop in November and indicate a likely second rate decrease in December. September saw annual consumer price inflation drop to 1.7%, the lowest reading since April 2021. Traders eagerly awaited comments by BoE Governor Andrew Bailey later in the day that would influence central bank rate cut path estimates. Additionally of interest to investors are the British budget on October 30 and flash PMI numbers expected on Thursday.In single stock stories UK’s WPP tops FTSE 100 with better-than-expected Q3 organic revenue growth. Shares of the British advertising group WPP rise 2.7%, its highest level since June 5, making it the top gainer on the FTSE 100 index, which is up 0.1%. The company posts a 0.5% rise in like-for-like organic revenue in Q3, better than expected, and maintains its full-year organic revenue outlook between -1% and 0%. WPP’s adjusted net debt as of September 30 was 3.6 billion pounds, down 0.3 billion pounds year-on-year. The stock is up 2.7% year-to-date as of the last close.Reckitt’s shares rose 2%, the highest since March 15, as the company’s Q3 like-for-like net sales fell 0.5%, better than the 1.7% decline analysts had expected. The company says it remains on track to meet full-year targets, with its Health and Hygiene divisions delivering sequential improvement and solid growth, respectively, despite a more competitive market backdrop in developed markets. Reckitt’s stock was among the biggest percentage gainers on the FTSE 100 index, though shares are still down 12.1% so far this year.Barratt Redrow, a British homebuilder, saw its shares rise as much as 2.8%. The company is experiencing more stable market conditions with increased mortgage availability and affordability, indicating improved sentiment in the UK’s housing sector. The group’s private bookings rate jumped around 37% during the August 22 to October 13 period compared to the corresponding year-ago figures. Barratt Redrow expects total home completions to be between 16,600 and 17,200 for the fiscal year 2025. The stock is down 13.1% year-to-date.
Technical & Trade ViewFTSE Bias: Bullish Above Bearish below 8225

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