Global markets trade cautiously amid mixed economic signals:

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading up around 0.11% on 03 November 2025.  

Macro Update: The Bank of England is expected to pause rate cuts this week after its narrow August move to 4%, but softer inflation (3.8% vs a forecast 4%), weaker wage growth and higher unemployment have kept hopes of another cut alive. Nationwide data show October house prices up 0.3% m/m and 2.4% y/y, beating forecasts and signalling resilient demand despite high mortgage costs. BP has agreed to sell $1.5bn of U.S. pipeline stakes as part of its $20bn debt-reduction plan, while Finance Minister Rachel Reeves moved to clear up a rental licence issue ahead of her 26 November budget. UK equities eased (FTSE 100 -0.44%, FTSE 250 -0.47%) after a record run, though both indices remain on track for monthly gains, helped by upbeat pharma, financial and mining earnings. 

Top Market Movers: Among top gainers on FTSE 100 index, Airtel Africa PLC (LSE: AAF) witnessed a rise of 3.25% followed by Haleon PLC (LSE: HLN) which gained around 2.51%. 

Commodity Update: The U.S. dollar strengthened to a near three-month high on Monday ahead of key economic data that could influence the Federal Reserve’s policy outlook. Gold rose 0.38% to USD 4,011.50 per ounce, silver gained 0.66% to USD 48.48, while copper slipped 0.40% to USD 10,852.00. Brent crude climbed 0.73% to USD 65.24 after OPEC+ postponed planned production hikes for the first quarter of next year. 

Our Stance: Global conditions look mixed: Trump’s broad tariffs are scrambling supply chains, with firms like OTC Industrial finding that moving production from China to other low-cost countries hasn’t reduced tariff pain. At the same time, Treasury Secretary Bessent warns housing may already be in recession and presses the Fed for faster cuts, while Powell signals December easing is “not a foregone conclusion.” Yet equities remain resilient, with the S&P 500 up for a sixth straight month and earnings growing, helped by AI-driven capex and a tentative U.S.–China trade truce. Net view: markets are leaning risk-on, but policy uncertainty and tariff-driven cost pressures argue for some caution.  

FTSE 100 

The FTSE 100 advanced 22.39 points to trade at 9,739.64, maintaining a firm stance above key support at 8,900. The index continues to trade comfortably above the 21-day SMA at 9,445.38 and the 50-day SMA at 9,378.11, reflecting a stable technical setup with scope for short-term consolidation. The RSI remains in the overbought zone but within bullish territory, indicating a mildly positive bias. Immediate support is seen near 8,950, while resistance levels are placed around 9,800 and 10,000. 

Source - EODHD/Others