Markets steady as sanctions lift oil, Tesla miss weighs:

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading up around 0.57% on 23 October 2025.  

Macro Update: Britain’s median full-time salary rose 4.3% to £39,039 in 2025, the smallest gain since 2021 but still ahead of post-financial-crisis trends, with real wages up 1.1% after inflation and care and leisure sectors benefiting from a higher minimum wage. Hindustan Unilever posted a 5% drop in quarterly profit before tax due to pre-GST disruption, though revenue rose 2% led by beauty segment growth. London Stock Exchange Group announced the sale of a 20% stake in its clearing arm for £850 mn, sending shares up 8% after strong results. UK markets gained as steady inflation at 3.8% raised hopes of a BoE rate cut, with Barclays up 5% after a £500 mn buyback. InterContinental Hotels Group saw slight global RevPAR growth as international demand offset U.S. weakness amid broader consumer caution. 

Top Market Movers: Among top gainers on FTSE 100 index, RENTOKIL INITIAL PLC (LSE: RTO) witnessed a rise of 11.68% followed by London Stock Exchange Group PLC (LSE: LSEG) which gained around 6.78%. 

Commodity Update: The dollar edged higher on Thursday as investors awaited Friday’s delayed U.S. inflation data and monitored renewed tariff tensions between Washington and Beijing. Gold rose 0.69% to USD 4,093.05 per ounce, silver gained 0.47% to USD 47.90, and copper added 0.13% to USD 10,686.95. Brent crude advanced 1.76% to USD 64.35, extending gains after the U.S. imposed sanctions on Russian oil majors Rosneft and Lukoil. 

Our Stance: Global markets were unsettled after U.S. President Donald Trump imposed sanctions on Russia’s top oil firms Rosneft and Lukoil, sending crude prices up over 4% and prompting India to consider cutting Russian imports. The move marked a sharp reversal from Trump’s earlier stance of pursuing peace talks with Moscow. Meanwhile, Tesla’s profit miss despite record sales highlighted cost pressures and weakening margins, while the U.S. government explored equity stakes in quantum computing firms to boost innovation. Heightened geopolitical risks lifted gold prices as investors sought safe havens, while emerging market assets softened amid global tensions.  

FTSE 100 

The FTSE 100 rose 15.00 points to 9,529.16, maintaining a firm stance above key support at 8,900. The index continues to trade above both the 21-day SMA at 9,426.13 and the 50-day SMA at 9,309.37, indicating a stable technical setup with scope for short-term consolidation. The RSI, positioned above the midpoint in bullish territory, signals a mildly positive bias. Immediate support is placed at 8,950, while resistance levels are seen at 9,600 and 9,800. 

Source - EODHD/Others