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FTSE struggles for direction ahead of the Budget

by LLB Editor
27th Oct 21 9:36 am

As often transpires, the contents of Rishi Sunak’s battered red briefcase were left looking like Westminster’s worst kept secret as today’s Budget enjoyed more trailers than the latest Marvel film ahead of its announcement.

AJ Bell investment director Russ Mould said: “Certainly the FTSE 100 was in sleepy mood ahead of the Budget announcement and it remains to be seen if the Chancellor can wake investors up by pulling any rabbits out of the hat this lunchtime.

“Speculation that BT is looking to mount a defence against a potential takeover attempt did little for the share price, while elsewhere builders merchant Wickes became the latest firm to warn of possible margin pressures as it faced increased costs.

“Robust results from Microsoft, Google-owner Alphabet and Twitter overnight showed there’s some life in the US big tech growth story yet.”

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