FX.co ★ FTSE 100 Inches Up Ahead of Budget

On Wednesday, the FTSE 100 experienced a modest uptick, yet it underperformed compared to other European markets as investors anticipated the forthcoming UK budget announcement. Shares in precious-metals mining companies, Endeavour and Fresnillo, rose by over 3% as gold prices approached a two-week peak. Conversely, several high-profile stocks exerted downward pressure on the index: Diageo decreased by 1.5%, Unilever saw a decline of roughly 1%, and RELX was down by 0.6%. Additionally, Shell's shares dropped 0.4% coinciding with weakened oil prices. WPP faced nearly a 2% downturn and is at risk of losing its long-standing position in the FTSE 100 after 27 years, with British Land anticipated to take its place based on provisional index adjustments. This reshuffle is set to be finalized upon market closure on December 3.