Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading down around 0.14% on 03 December 2025. 

Macro Update: Higher-than-forecast nominal earnings growth will directly increase income tax and national insurance receipts, providing an automatic, timely fiscal buffer that partially mitigates the headwinds from weaker underlying productivity and GDP growth. 

Top Market Movers: Among top gainers on FTSE 100 index, Antofagasta PLC (LSE: ANTO) witnessed a rise of 4.94% followed by Fresnillo PLC (LSE: FRES) which gained around 3.45%. 

Commodity Update: The dollar held steady on Wednesday as attention shifted to broader market moves, with traders positioning for potential U.S. rate cuts in 2026 that could pressure the greenback. Gold rose 0.44% to USD 4,253.70, silver gained 1.06% to USD 59.32, and copper inched up 0.33% to USD 11,225.00. Brent crude slipped 0.21% to USD 62.32 as investors assessed whether Russia-Ukraine peace efforts might boost supply amid surplus worries. 

Our Stance: While inflation persists, sustained nominal wage growth should help protect real household disposable incomes. This underlying consumer resilience supports domestic demand and provides a stabilizing floor for economic activity amid a period of slower expansion. 

FTSE 100 

The FTSE gained 9.01 points to 9,711.54 and continues to trade well above the major support zone near 9,200, maintaining a broadly stable structure. The 21-day SMA at 9,689.60 sits below the index, indicating a mild positive undertone, while the 50-day SMA at 9,573.22 supports broader stability with room for near-term consolidation. The RSI remains elevated with a slight downward bias. Immediate support lies near 8,950, with resistance at 10,000 and 10,120. 

A graph on a computer screen AI-generated content may be incorrect.

Source - EODHD/Others 

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