Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading up around 0.35% on 02 December 2025. 

Macro Update: UK banks are poised to gain as the Bank of England eases capital rules, boosting lending capacity. Defensive sectors like utilities and essential consumer staples (e.g., Unilever) should also be resilient amid slowing growth and inflation. Conversely, hospitality and retail face headwinds from weak consumer sentiment, minimum wage increases, and higher operating costs. 

Top Market Movers: Among top gainers on FTSE 100 index, land Securities Group PLC (LSE: LAND) witnessed a rise of 2.33% followed by Persimmon PLC (LSE: PSN) which gained around 1.54%. 

Commodity Update: The U.S. dollar stayed weak on Tuesday after disappointing U.S. manufacturing data increased expectations of a Fed rate cut later this month. Gold edged down 0.44% to USD 4,255.35, silver dropped 2.05% to USD 57.92, and copper slipped 0.88% to USD 11,163. Brent crude rose 0.10% to USD 63.23, supported by OPEC+’s decision to pause production hikes and ongoing geopolitical supply concerns. 

Our Stance: UK banks and financial services are expected to gain from the Bank of England's easing of capital requirements and positive stress test results. Conversely, online gambling is set to lose due to a significant increase in remote gaming duty. Hospitality and retail sectors will likely face continued challenges from inflation, consumer sentiment, and rising operational costs. 

FTSE 100 

The FTSE gained 9.01 points to 9,711.54 and continues to trade well above the major support zone near 9,200, maintaining a broadly stable structure. The 21-day SMA at 9,689.60 sits below the index, indicating a mild positive undertone, while the 50-day SMA at 9,573.22 supports broader stability with room for near-term consolidation. The RSI remains elevated with a slight downward bias. Immediate support lies near 8,950, with resistance at 10,000 and 10,120. 

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Source - EODHD/Others 

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