Markets weighed by UK slowdown, global shutdown; tech and gold offset oil drag:

                                                   Source: Krish Capital Pty Ltd

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading around 0.65% up on 03 October 2025.  

Macro Update: UK business activity slowed sharply in September, with the services PMI dropping to 50.8 and the composite PMI barely above contraction at 50.1, as firms and consumers delayed spending ahead of possible tax hikes. The new leaders of the Trade Remedies Authority pledged to toughen trade defences even before new legislation, while J D Wetherspoon reported a 10% rise in profit thanks to its low-cost model, though inflation and higher costs pose risks. The government announced a £500,000 project to build sensors against satellite-targeting lasers amid rising security threats in space. In markets, the FTSE 100 slipped 0.2% after touching a record high, with Tesco gaining 5.2% on upgraded profit guidance while energy and support services stocks weighed on the index. 

Top Market Movers: Among top gainers on FTSE 100 index, Bunzl PLC (LSE: BNZL) witnessed a rise of 4.11% followed by Schroders PLC (LSE: SDR) which gained around 3.48%. 

Commodity Update: The dollar rebounded overnight despite the U.S. government shutdown halting key economic data, including September’s jobs report. Gold rose 0.15% to $3,873.75, silver gained 0.82% to $46.75, and copper edged up 0.18% to $10,510.30. Brent crude added 0.18% to $64.29 after four sessions of losses but remained on track for its steepest weekly fall since June amid expectations that OPEC+ may boost output despite oversupply worries. 

Our Stance: Global markets reflected a mix of political and economic crosscurrents: President Trump hardened his stance during the ongoing U.S. government shutdown, warning of federal job cuts and project cancellations while touting exaggerated tariff revenue expectations. Tesla reported record deliveries, but shares fell on concerns demand was pulled forward ahead of an EV tax credit expiry. Wall Street closed at fresh record highs led by tech giants like Nvidia and Apple, though labor data signaled weak hiring momentum. Oil prices steadied but were still heading for a 7–8% weekly drop amid expectations of a larger OPEC+ output hike and softer demand, while gold hovered near record highs, buoyed by safe-haven demand, Fed cut bets, and uncertainty from the prolonged U.S. shutdown. 

FTSE 100 

The FTSE 100 is trading at 9,476.90, up 0.52%, holding above key support at 8,900 and the 50-day SMA at 9,215.42. It also remains above the 21-day SMA at 9,276.42, indicating limited upside momentum and potential consolidation. The RSI in the overbought zone reflects a mildly positive bias. Immediate support is seen at 8,950, while resistance levels are placed at 9,500 and 9,800. 

Source - Refinitv