London's FTSE 100 falls after Labour's first budget
UK budget declares tax rise
AstraZeneca falls on China probe
GSK warns of lower 2024 vaccine sales, shares fall
FTSE 100 down 0.7%, FTSE up 250 up 0.3%
Updated at 1652 GMT
By Shubham Batra and Nikhil Sharma
Oct 30 (Reuters) -The UK's FTSE 100 fell to an over two-month low on Wednesday, dragged down by the healthcare sector, while midcap stocks got a lift even as the latest UK budget came with the biggest tax increases in three decades.
The blue-chip FTSE 100 .FTSE fell 0.7% to its lowest level since August 9, weighed down by AstraZeneca AZN.L and GSK GSK.L.
The midcap FTSE 250 .FTMC rose 0.3% as market players deemed the new Labour government's first UK budget to be less punitive on businesses than many had previously feared.
Small cap stocks got an even bigger boost. The FTSE AIM index .FTAI rose about 4%, logging its biggest one-day rally since April 2020.
Finance minister Rachel Reeves said she would raise taxes by 40 billion pounds ($52 billion) a year, much of it paid by businesses and the wealthy, and she blamed the Conservatives for leaving her Labour Party with a "black hole" in the budget.
"By 2029 fewer people will drift into higher tax bands now that thresholds will be uprated with inflation once again. This tax tweak, coupled with the rise in the minimum wage, will eventually put more money into consumers’ pockets," said Susannah Streeter, head of money and markets, Hargreaves Lansdown.
Pub stocks enjoyed a lift after Reeves announced a cut to duties on alcoholic drinks in pubs, and extended England's business rates relief for retail and hospitality. Marstons MARS.L rose 3.4%.
Betting firm Entain ENT.L jumped 8.6% after Reeves left taxes on the sector unchanged.
AstraZeneca AZN.L fell 2.8% after the drugmaker said its China president is under investigation and is cooperating with Chinese authorities.
GSK GSK.L dropped 3% after the drugmaker warned that its vaccine sales would fall this year, after weaker-than-expected sales for its respiratory syncytial virus and shingles vaccines in the third quarter.
Spirits maker Diageo DGE.L fell 2.6% after its Italian peer Campari CPRI.MI tumbled on missing analysts' third-quarter earnings expectations.
In contrast, Standard Chartered STAN.L rose 4% on plans to double investment in its wealth unit while paring back retail banking, as it lifted performance targets and said it will go further in reshaping the bank to try and meet those goals.
Reporting by Shubham Batra in Bengaluru; Editing by Rashmi Aich, William Maclean
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限,并允许个人查看和/或使用网站或网站所提供的内容,但无意进行任何更改或扩展,也不会更改或扩展其服务和访问权限。所有访问和使用权限,将受下列条款与条例约束:(i) 条款与条例;(ii) 风险提示;以及(iii) 完整免责声明。请注意,网站所提供的所有讯息,仅限一般资讯用途。此外,XM所有在线交易平台的内容并不构成,也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料,仅适用于教育/资讯类用途,不包含也不应被视为用于金融、投资税或交易相关咨询和建议,或是交易价格纪录,或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容,包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接,皆保持不变,并作为一般市场评论所提供,而非投资性建议。所有在线交易平台所发布的资料,仅适用于教育/资讯类用途,不包含也不应被视为适用于金融、投资税或交易相关咨询和建议,或是交易价格纪录,或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解,XM非独立投资研究提示和风险提示相关资讯,更多详情请点击 这里。