Following a tech-led surge that pushed Wall Street toward new records, the FTSE 100 opened up 78.81 points to reach 10,576.75. Meanwhile, Brent crude futures dropped 0.66%, trading at USD 99.66 per barrel, and US West Texas Intermediate (WTI) decreased 0.87% to USD 88.65 a barrel.
On Tuesday, sterling held steady against the US dollar at USD 1.3217, compared to Monday’s rate of USD 1.3218. Against the euro, the currency moved to EUR 1.1777, slipping from EUR 1.1792.
Gainers & Losers
Leading the upward movement, AstraZeneca increased 2.21% to 12,024p, Marks & Spencer Group advanced 2.15% to 384.30p, and Weir Group climbed 1.94% to 2,632p. Whitbread moved up 1.90% to 2,472p, RELX added 1.89% to 2,584p, and Imperial Brands gained 1.80% to 2,494p.
On the opposing end, BP dropped 1.15% to 556.70p, BAE Systems fell 0.91% to 1,916.50p, and IG Group Holdings lost 0.86% to 977.50p. Coca-Cola HBC decreased 0.33% to 4,240p, Fresnillo edged down 0.29% to 2,734p, and Endeavour Mining declined 0.17% to 4,243p.
Rate Hike to be Skipped
Mohit Kumar, an economist at Jefferies, stated he anticipates that both the European Central Bank and the Federal Reserve will bypass an interest rate hike in October, with the subsequent increase likely occurring in December.
He noted that recent remarks from central bank officials—including Hammack and Jefferson of the Fed, alongside Lane of the ECB—have shown a softened stance regarding the necessity of further rate hikes.
Regarding bond markets, Kumar remarked that investors are targeting the “weakest link in the deficit picture, which is France and the UK.” Although French spreads compressed to 136 basis points from an intraday peak exceeding 150bp, he emphasized that a “buyers strike” represents the primary concern rather than an outright sovereign crisis.
Informa Acquired Clarion Events
Publishing and research giant Informa purchased exhibition and event organizer Clarion Events for a valuation of GBP 2.3 billion. The firm announced on Tuesday that the acquisition from private equity backer Blackstone integrates over 100 business-to-business live event brands into Informa’s portfolio, positioning annual revenues to push past USD 6 billion.
Additionally, the group shared plans on Tuesday to spin off its academic publishing division under the name Taylor & Francis. The company noted that the unit, generating nearly USD 1 billion in annual revenue with a 4% growth rate, will stand to gain from increased flexibility and independence.
Berkeley Urged Healey to Cut Stamp Duty
Housebuilder Berkeley Group appealed to John Healey to reduce stamp duty on newly constructed homes, arguing the policy adjustment would generate a GBP 4.2 billion windfall for the Treasury.
Within its submission for the Budget, Berkeley Group advised the Chancellor that swift measures are vital to keep the housing market from plunging over an “economic cliff edge.” The developer asserted that removing the 5% investor surcharge applied to new homes would trigger 30% sales growth and deliver GBP 4.2 billion to the Exchequer.
Also Read: Top Stocks to Watch in October 2026: Picks From India, US.& UK
Global Market View
Stateside, the NASDAQ rose 0.46%, while the S&P 500 dipped 0.26% and the Dow Jones Industrial Average fell 1.25%. US Treasury yields moved upward consistently, with the 10-year Treasury touching a 24-year peak near 5.34% before settling around 5.28%.
Across Asian markets, Tokyo’s Nikkei 225 climbed 1.05% to 70,683.98, while mainland China’s Shanghai Composite remained shut for the Golden Week holiday. Hong Kong’s Hang Seng increased 0.77%, whereas South Korea’s Kospi slipped 0.89%. In India, the Nifty 50 and the Sensex posted gains of 0.62% and 0.63%, respectively.
