Markets rally after the Budget

Chancellor John Healey's first Budget last Wednesday raised taxes while keeping the planned current budget surplus by 2030, and it did not trigger the gilt market sell-off some investors had feared, with the 10-year UK gilt yield easing to 5.28% from 5.36%. The bank corporation tax surcharge was temporarily doubled to 6%, and £20.4 billion was committed to the National Wealth Fund and the British Business Bank. Gas standing charges are to be scrapped for around 23 million households from 2027. Data released in Nationwide’s latest House Price Index showed annual house price growth slowing to 0.5% for the year to October from 0.8% in September, which the mortgage lender attributed to higher energy prices and mortgage costs... **Stocks featured:** AstraZeneca, Babcock International and Haleon To find out more about the investment management services offered by Walker Crips, please visit our website: https://www.walkercrips.co.uk/ This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange. * * * Hosted on Acast. See acast.com/privacy for more information.