FX.co ★ FTSE 100 Little Changed on Thursday

UK equities remained stable on Wednesday, following a 0.9% increase post-budget announcement. The index was pressured by declines in commodity-linked stocks, as Rio Tinto and Anglo American fell by 1.3%, while Fresnillo and Antofagasta decreased by 0.8–0.9%. Shares of BP, Glencore, and Shell also saw slight reductions. However, these losses were partially balanced by gains in Diageo and Associated British Foods, each rising approximately 1.3–1.5%. Additionally, financial institutions like Barclays, Lloyds, and NatWest experienced upward trading. The gambling sector faced challenges due to the announcement of increased betting duties. Evoke abandoned its medium-term objectives, citing that the tax hike will reduce its 2025 revenue by £80 million, escalating to £130 million annually from 2027, with a strategy to counterbalance roughly half via cost reductions. Entain forecasts a £200 million impact, with plans to alleviate about 25% of this through mitigation strategies.