Global and UK markets steadied, but tariff risks and uncertainty persisted:

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading down around 0.04% up on 10 October 2025.  

Macro Update: AstraZeneca CEO Pascal Soriot secured a landmark deal with U.S. President Donald Trump to lower medicine prices for millions of Americans, marking the first such agreement for a non-U.S. drugmaker and helping the company avoid potential import tariffs. In the UK, the Institute for Fiscal Studies urged Finance Minister Rachel Reeves to use the November budget for overdue tax reforms targeting wealth and property rather than raising existing tax rates, as she seeks £30 billion to stabilize public finances. Meanwhile, London’s financial sector saw a 9% year-on-year rise in job vacancies, led by fintech and AI-driven demand, though firms remain cautious ahead of possible tax increases. The pound also gained 0.24% to $1.3365 as markets welcomed Trump’s softer stance on China after he appeared to ease back from threats of 100% tariffs on Chinese goods. 

Top Market Movers: Among top gainers on FTSE 100 index, Endeavour Mining PLC (LSE: EDV) witnessed a rise of 9.34% followed by Fresnillo PLC (LSE: FRES) which gained around 7.58%. 

Commodity Update: The U.S. dollar rebounded on Monday after an early selloff, as hopes grew that Washington might soften its latest trade measures against Beijing. Political uncertainty in France and Japan weighed on the euro and yen. Commodities strengthened, with gold up 1.58% to $4,063.40, silver rising 3.24% to $48.79, and copper gaining 1.78% to $10,600.00. Brent crude advanced 1.70% to $63.78, recovering from earlier losses. 

Our Stance: Global markets reflected a cautiously positive mood as President Trump’s diplomatic success in brokering a Gaza ceasefire and his softer stance on China helped ease geopolitical and trade tensions. The release of hostages under the truce was seen as a major step toward regional stability, while Trump’s assurances that “it will all be fine” calmed fears of an immediate escalation in the U.S.-China trade conflict. Gold and silver surged to record highs as investors sought safe havens amid uncertainty, while the dollar strengthened modestly on hopes of a more measured U.S. approach. Meanwhile, U.S. economic indicators pointed to mixed conditions — resilient investment activity offset weaker consumption and trade — leaving inflation, slow job growth, and policy direction as key concerns ahead of upcoming fiscal and monetary decisions.  

FTSE 100 

The FTSE 100 traded at 9,453.15, up 0.27%, maintaining a firm position above key support at 8,900 and the 50-day SMA at 9,260.21. It also remains above the 21-day SMA at 9,344.87, reflecting a stable technical structure with limited near-term upside and potential for consolidation. The RSI, positioned in the bullish zone, indicates a mildly positive bias. Immediate support is placed at 8,950, with resistance levels at 9,600 and 9,800. 

Source - EODHD/Others