FX.co ★ FTSE 100 Rises on Tuesday

On Tuesday, the FTSE 100 experienced a rise of 0.8%, reaching the 9,609 mark. This growth was driven by heightened expectations of a forthcoming Federal Reserve rate cut next month and eager anticipation surrounding Chancellor Rachel Reeves's upcoming budget announcement. Bank stocks were at the forefront of this upward momentum, with notable gains from Lloyds (+3.8%), NatWest (+3.6%), and Barclays (+2.3%) following reports that they will be spared from a tax increase in the new budget. Additionally, Kingfisher witnessed a substantial surge of nearly 7% after adjusting its earnings forecast upward. Next also saw a 1.8% increase as it enhanced a previously announced special dividend, a move made possible by a recent land sale in Essex. Conversely, Beazley experienced a 9% decline due to disappointing third-quarter premium growth, while easyJet fell by 1.5%—despite surpassing profit expectations—primarily due to higher ticket prices, which were significant contributors to its performance.