Risk-on tone builds as U.S. shutdown nears end and UK outlook steadies:

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading down around 0.15% on 12 November 2025.  

Macro Update: Health Minister Wes Streeting denied plotting to unseat Prime Minister Keir Starmer after unnamed allies warned of a potential leadership bid later this month amid Labour’s slump in the polls and the risk of breaking its no income-tax-rise pledge. Meanwhile in retail, Marks & Spencer is overhauling its supply chain to boost online non-food sales to ~£3 bn, and German energy-major RWE posted stronger-than-expected profit on a major data-centre sale linked to AI infrastructure. The UK government also proposed tougher cyber-security standards for firms serving public services, while house-builder Taylor Wimpey flagged softer demand amid budget-tax uncertainty yet kept full-year targets intact. 

Top Market Movers: Among top gainers on FTSE 100 index, SSE PLC (LSE: SSE) witnessed a rise of 11.67% followed by Games Workshop Group PLC (LSE: GAW) which gained around 6.17%. 

Commodity Update: The dollar slipped on Wednesday after weak U.S. private-sector jobs data heightened concerns about labor market health. Investors awaited the expected reopening of the U.S. government, which could trigger a flood of delayed economic reports. Gold rose 0.37% to USD 4,131.40 per ounce, silver gained 0.75% to USD 51.12, and copper inched up 0.02% to USD 10,834.20. Brent crude eased 0.20% to USD 65.04 amid hopes of a shutdown resolution. 

Our Stance: The U.S. appears poised to end its historic government shutdown as the House prepares to vote on a stopgap funding bill Wednesday, aiming to restore services like food aid, unpaid federal workers and air traffic control—an outcome that has lifted risk sentiment and equity futures amid optimism around improved AI earnings guidance. Still, the path remains uncertain: the narrowly controlled Republican House must win key backing from President Trump, while Democrats remain opposed after their demands for health subsidy extensions were sidelined. The shutdown-induced data freeze has clouded economic visibility, so its potential resolution could re-open transparency and reduce tail risk, even as oil prices and commodity flows face pressure from supply overshang.  

FTSE 100 

The FTSE 100 gained 12.19 points to trade at 9,911.79, staying comfortably above key support at 9,200. With the 21-day SMA at 9,646.64 and the 50-day SMA at 9,459.19, the overall structure appears stable and poised for near-term consolidation. The RSI remains elevated yet within bullish territory, indicating a mildly positive tone. Support lies near 8,950, while resistance is seen around 10,000 and 10,120. 

Source - EODHD/Others