FX.co ★ FTSE 100 Falls Ahead Budget

The FTSE 100 fell 0.4% on Wednesday, extending the previous session’s 0.8% decline, as investors digested a fresh round of corporate earnings and positioned themselves ahead of the UK government’s upcoming budget announcement. GSK slid about 4% after releasing its third-quarter results, while Unilever shed 3.5% despite slightly raising its full-year sales growth outlook. In contrast, Standard Chartered outperformed the broader market, advancing 4.5% after reporting better-than-expected third-quarter profits, supported by record wealth inflows that boosted trading activity.

At the same time, oil prices added to the cautious mood, with Brent crude climbing above $115 a barrel amid reports that the US could resume military strikes against Iran following next week’s midterm elections. Domestically, focus is squarely on Chancellor John Healey’s first budget, scheduled for around 12:30 p.m. London time, as investors look for policy measures that could influence economic growth, the trajectory of public finances, and overall business confidence.