The FTSE 100 made a subdued start to the day, ahead of minutes from the latest FOMC meeting, and as the Autumn Statement looms.
Ahead of the Chancellor’s statement tomorrow, official figures showed borrowing at the second-highest figure for October on record. However, the figure was below that forecast by the Office for Budget Responsibility in March, giving Jeremy Hunt some scope to offer tax cuts or other sweeteners ahead of the expected general election in 2024.
In company news, AO World jumped over 5% after raising guidance after returning to profit in the first half of the year.
Elsewhere, Capita leapt more than 7% after it increased its cost-cutting programme to £60 million from the £40 million it had indicated before.
Meanwhile, Admiral Group Plc (LSE:ADM) leapt 3% as Ctit double upgraded the insurer to buy, but Softcat (LSE:SCT) plunged more than 4% as JPMorgan downgraded the stock to underweight.
