UK and global markets end the week mixed:

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading down around 0.54% on 31 October 2025.  

Macro Update: UK markets reflected a mix of resilience and caution as house prices rose 0.3% in October, defying forecasts and marking a 2.4% annual gain, signaling steady housing demand ahead of Finance Minister Rachel Reeves’ Nov. 26 budget, which may include tax hikes. Meanwhile, Reeves addressed scrutiny over a rental licence issue, with PM Keir Starmer backing her amid efforts to maintain government stability. On commodities, copper hit a record $11,200/ton, buoyed by bullish investor sentiment, while London stocks paused after an eight-session FTSE 100 rally, as investors digested mixed earnings from WPP, Standard Chartered, and Shell, alongside a cautious outlook following the Fed’s 25 bps rate cut. 

Top Market Movers: Among top gainers on FTSE 100 index, Smith & Nephew PLC (LSE: SN.) witnessed a rise of 1.91% followed by Haleon PLC (LSE: HLN) which gained around 1.21%. 

Commodity Update: The U.S. dollar steadied near a three-month high in early Asian trade Friday as markets digested mixed cues from central bank moves, tech earnings, and a tentative U.S.-China tariff truce. Gold rose 0.23% to USD 4,026.50, while silver slipped 0.09% to USD 48.57, and copper gained 0.35% to USD 10,952.00. Brent crude fell 0.51% to USD 64.67, marking its third consecutive monthly decline. 

Our Stance: Global markets turned cautiously optimistic as upbeat earnings from Amazon and Apple reignited risk appetite and lifted U.S. futures. Amazon’s cloud revenue grew at its fastest pace in nearly three years, driving a 14% surge in its shares, while Apple’s holiday-quarter outlook exceeded expectations, fueled by strong iPhone 17 demand despite supply bottlenecks. The results underscored how Big Tech’s aggressive AI-driven investment cycle continues to offset macro uncertainty and weak consumer sentiment. Meanwhile, a U.S.–China defense dialogue signaled tentative diplomatic stabilization, though tensions in the South China Sea and Taiwan persist. In Europe, equities softened as investors digested mixed earnings and awaited inflation data amid recalibrated expectations for future rate cuts.  

FTSE 100 

The FTSE 100 fell 30.10 points to trade at 9,729.96 but continues to hold well above key support at 8,900. The index remains comfortably above the 21-day SMA at 9,534.15 and the 50-day SMA at 9,370.00, indicating a stable technical setup with potential for near-term consolidation. The RSI, positioned in the overbought zone yet within bullish territory, reflects a mildly positive bias. Immediate support is near 8,950, with resistance at 9,800 and 10,000. 

Source - EODHD/Others