FTSE 100 Falls 0.75% to 10,686.54 Ahead of UK Budget
Key Facts
Britain’s FTSE 100 fell 0.75% to 10,686.54 points on October 27, its biggest daily decline in about a month, according to Euronext data. The drop came a day before the UK budget announcement, as investors awaited results from major companies. In the same session, the FTSE 250 index of mid-cap companies rose 0.93%, leaving the two indexes moving in opposite directions. EL7 data showed the FTSE 100 closed at 10,767.33 points on October 26. The October 27 reading was therefore below the previous day’s close, while the market remained focused on economic developments and company results.
The British index’s decline coincided with broader weakness in European shares. Reuters reported that European stocks edged lower on Wednesday as investors assessed a wave of corporate results and rising oil prices. The agency said investors were weighing earnings reports against oil prices, factors that influenced sentiment during trading. The report does not establish that the UK budget caused the market decline, nor does it provide a reading for the FTSE 100’s movement during the October 28 session. The October 27 closing data therefore remain the available reference for the British index’s movement in the period before the budget announcement. This comes in a week when corporate results overlap with a set date for a UK fiscal event.
GSK results were among the key events investors were watching, after the company scheduled publication of its third-quarter 2026 results for October 28 at 07:00 GMT. The results will allow investors to compare the latest period’s performance with previous quarterly data and the average of analysts’ estimates. In the second quarter, the company’s sales were 8.4 billion pounds, up 5% on both a reported and constant-currency basis, according to its announcement. Specialty medicines sales also rose 14% to 3.8 billion pounds. These figures provide context for the business’s performance ahead of the third-quarter results, without determining the stock’s direction in the October 27 session.
The average estimate among analysts whose third-quarter sales forecasts were compiled by GSK was 8.842 billion pounds, based on estimates from 15 brokerage firms. The consensus provides a benchmark against which to compare reported revenue when the results are released, while remaining a forecast rather than an actual result. EL7 data showed GSK shares closed at 50.94 on October 27, without specifying the price unit. The company is scheduled to announce its results at 07:00 GMT the following day. The company’s performance figures will thus precede the chancellor’s presentation of the fiscal statement on budget day.
Unilever scheduled publication of its third-quarter 2026 trading statement for October 28, with a webcast at 08:30 a.m. UK time. The company’s statement is scheduled after GSK’s results, due at 07:00 GMT, making for a busy morning of disclosures from British companies. EL7 data showed UL shares closed at 65.05 on October 27, without specifying the price unit. That means the recorded figure reflects the previous close and is not a live price on the day of the statement. Investors are awaiting quarterly trading details alongside the GSK results and the budget.
The UK budget forms part of this backdrop as an announced government event: the Treasury confirmed that the chancellor’s first budget will be delivered on Wednesday, October 28. A parliamentary statement said the chancellor would deliver the statement at about 12:30 p.m. UK time, after Prime Minister’s Questions. The date follows inflation data showing the Consumer Prices Index rose to 3.5% in the 12 months to September, compared with 3.1% in August, according to the Office for National Statistics. The inflation reading provides economic context ahead of the budget, while the content of the fiscal measures depends on what the chancellor announces. After the morning company disclosures, investors will turn to the statement scheduled for midday.