FTSE 100

Key insight

10,686 Tuesday close is now live resistance; Budget day volatility risk is acute — break below 50-day MA ~10,620 opens path to 10,450 gap fill.

Stalls 200pts below Oct high at 10,881 — BoE rate hike risk hardened by 3.5% CPI; Autumn Budget uncertainty keeps risk appetite suppressed into close.

Main risk

UK Autumn Budget — Chancellor Healey

Surprise tax hikes or fiscal slippage could reprice gilts, lift yields, and hit rate-sensitive FTSE 100 banks and housebuilders hard.